Fonterra shares, units plumb record lows as milk production falls

Thu, 30 May 2019

By Jenny Ruth May 30 (BusinessDesk) - Fonterra shares and units have fallen to record lows after the dairy giant said total New Zealand milk production fell 10 percent in April from a year ago and Australian production fell 10 percent in March. Fonterra Co-operative shares, which can be owned only by farmers, fell as low as $3.95, or 2.5 percent, before recovering to $3.98. Meanwhile, units in the Fonterra Shareholders’ Fund, which anyone can own, experienced a similar decline. “Dry conditions continued across most of the North Island...

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