Fonterra cuts payout forecast for the second time this month

(Image: Getty)

Fri, 18 Aug 2023

Dairy giant Fonterra has lowered its forecast payout for the current season for the second time this month.It now expects to pay $6.00 to $7.50 per kilogram of milk solids, with a midpoint of $6.75 per kgMS. It had already slashed the forecast by 12% this month to $6.25 to $7.75 per kgMS, with a midpoint of $7.00. On Thursday, DairyNZ revised its breakeven milk price to $7.51 per kg/MS for this season.DairyNZ head of economics, Mark Storey, says many dairy farmers will find the current milk price and inflation issues...

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