Slightly frothier milk prices bode well for Fonterra farmers

(Image: Fonterra)

Thu, 07 Dec 2023

Fonterra may be heartened by the tick-up in dairy prices, but Chinese demand is still a wild card, and the strong New Zealand dollar may also weigh.Whole milk powder (WMP) prices lifted 2.1% to US$3,104 (NZ$5,033) a metric tonne in the global dairy trade auction overnight Tuesday, while the GDT index was up 1.6%.Fonterra will present its first quarter economic results today and could revise up its milk price forecast for the current season.Fonterra last revised its payout in October and now expects to pay its farmer shareholders in a range of $...

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