ANZ lowers milk price forecast for this and next season

ANZ lowers milk price forecast for this and next season
ANZ Bank is more worried about demand than supply. (Image: Unsplash)
Rebecca Howard
ANZ Bank has lowered its farmgate milk price forecast for this season and the next as dairy commodity prices slump.This week prices fell 8.5% in the Global Dairy Trade auction, the fourth consecutive fall. ANZ lowered its 2021-22 season forecast by 40 cents to $9.30 per kilogram of milk solids, meaning around $500 million less for the rural sector than it previously expected. It also slashed its 2022-23 forecast by 80 cents to $8.50.Fonterra is currently expecting to pay its farmer shareholders a record $9.30-$9.90/kg MS, accordi...

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