Fonterra lifts forecast milk price, tips 'strong' full-year dividend

Analysts have tipped a lift in the payout. (Image: Supplied)

Fri, 23 Aug 2024

Fonterra has upped its forecast milk price and says it's on track for a "strong" full-year dividend.Earlier this week, global dairy prices at the fortnightly Global Dairy Trade (GDT) auction surged, resulting in the biggest percentage jump in more than three years.The price index rose 5.5% to US$3,920 (NZ$6,368) a metric tonne (MT) – the most significant percentage jump since March 2021.Whole milk powder, which has the biggest influence on Fonterra’s milk price and makes up half of the auction, jumped 7.2% to US$3,482/...

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