UPDATE: NZX milk futures fall from record after GDT, still above Fonterra payout forecast

Thu, 22 Sep 2016

(Updates lots traded in sixth paragraph.) By Tina Morrison Sept. 22 (BusinessDesk) - New Zealand milk price futures have fallen in the wake of the latest GlobalDairyTrade auction, having reached a record in the run-up to this week's sale, but remain above the payout level forecast by most of the country's milk processors. The NZX milk futures contract for the 2016/17 season hit a record $5.65 per kilogram of milk solids ahead of the GDT overnight on Tuesday, and recently traded at $5.50/kgMS. That's still above the base milk price fore...

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