Primary Sector

ANZ lowers milk price forecast for this and next season

Rebecca Howard
Fri, 06 May 2022

ANZ lowers milk price forecast for this and next season
ANZ Bank is more worried about demand than supply. (Image: Unsplash)
Rebecca Howard
Fri, 06 May 2022
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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