UPDATE: Fonterra holding steady on forecast milk price no surprise to market and farmers

Wed, 09 Dec 2015

(Adds comment from economists and farmers throughout) By Fiona Rotherham Dec. 10 (BusinessDesk) - Fonterra Cooperative Group’s decision to hold steady its forecast farmgate milk price in the hope global dairy prices will lift in the first half of next year came as no surprise to market players. Fonterra maintained its 2015/16 forecast farmgate milk price at $4.60 per kilogram of milk solids in an announcement today, which would mean a total cash payout, when the dividend is added in, of $4.95-$5.00/kgMS. ANZ Bank New Zealand rural e...

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