Open Country Dairy cuts milk payout below Fonterra's forecast

Mon, 18 Jan 2016

By Edwin Mitson Jan. 18 (BusinessDesk) - Open Country Dairy, New Zealand's second largest dairy processor, has reduced its milk payout by 30 cents to an average price of between $4.00-$4.30 per kilogramme of milk solids. Chairman Laurie Margrain told BusinessDesk the revision reflected the company's view on the market at present, and that suppliers were notified last week. In September, Fonterra lifted its forecast total payout for the 2015/16 season by 75 cents to $4.60/kgMS, and affirmed that view in December. ANZ Bank New Zealand e...

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