Fonterra's reduced milk volume forecast may help lift weak global prices, Westpac says

Thu, 29 Jan 2015

By Fiona Rotherham Jan. 29 (BusinessDesk) - Fonterra Cooperative Group’s 3.3 percent reduction in its milk volume forecast for the 2014-2015 season may provide a lift for depressed global dairy prices, Westpac Banking Corp economists say. Fonterra expects 1,532 million kilograms of milk solids this season, matching last season’s production of 1,584/kgMS, reflecting the impact of dry weather. It had already cut its December forecast to zero growth, The world’s largest dairy exporter today said than in some regions pasture quality has...

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