New Zealand milk collection falls 5.7% in first half on unfavourable weather

Wed, 21 Dec 2016

By Rebecca Howard Dec. 21 (BusinessDesk) - Fonterra Cooperative Group's New Zealand milk collection was down 5.7 percent on the year in the six months to Nov. 30 as dairying regions were hit by unfavourable weather conditions. The tighter supply in some regions such as New Zealand has helped shore up the global dairy prices, eroded in the past few years by global oversupply and weak demand. Dairy prices have risen more than 75 percent since July, leading Fonterra to hike its milk price forecast last month to $6 per kilogram of milk solids...

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