NZX milk prices futures gain after Fonterra lifts 2018 forecast citing global dairy "rebalancing"

Thu, 27 Jul 2017

By Jonathan Underhill July 27 (BusinessDesk) - Milk price futures rose after Fonterra Cooperative Group lifted its forecast farmgate payout for the 2018 season although market analysts said it is too soon to predict any change in behaviour such as an increase in dairy farm conversions. The 2017-18 (season) milk price futures on the NZX rose to $6.70 per kilogram of milk solids from $6.55/kgMS yesterday after Fonterra lifted its 2018 forecast payout to $6.75/kgMS from an earlier projection of $6.50/kgMS. Nigel Brunel, director of financ...

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