Milk NZ Holding surprised by Fonterra's $7 payout for 2019 given outlook for global demand

Mon, 28 May 2018

By Jonathan Underhill May 28 (BusinessDesk) - Milk New Zealand Holding, which owns and manages dairy operations controlled by Shanghai Pengxin, says it didn't expect such a bullish forecast from Fonterra Cooperative Group for its 2019 milk payout. Last week Fonterra raised its forecast milk price for 2019 of $7 per kilogram of milk solids from the $6.75 /kgMS projected for the current season, while cutting its projected dividends for 2018, saying rising global dairy prices were squeezing margins. "The $7 payout forecast is stronger tha...

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