Fonterra hikes forecast payout on strong global demand

Thu, 05 Dec 2019

Fonterra Cooperative Group raised the midpoint of its forecast farmgate milk price on strong global demand and said it’s making progress under a new strategy with strong first-quarter earnings growth.The cooperative lifted the midpoint of its forecast payout by 25 cents to $7.30 per kilogram of milk solids and narrowed the range to between $7.00 and $7.60/kgMS from a previous forecast of between $6.55 and $7.55/kgMS.Chair John Monaghan said prices at the Global Dairy Trade auctions had increased by about 6 percent since the previous forecast wh...

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