Weak dairy prices prompt analysts to pull back Fonterra forecast payout for next season

Wed, 06 May 2015

By Tina Morrison May 6 (BusinessDesk) - Weak global dairy prices have prompted analysts to pull back their expectations for Fonterra Cooperative Group's payout to farmers for next season. Average prices dropped 3.5 percent in the GlobalDairyTrade auction overnight. New Zealand's key product, whole milk powder, slipped an average 1.8 percent, extending its cumulative decline over the past five auctions to 27 percent. Auckland-based Fonterra, the world's largest dairy exporter, last week cut its forecast payout for the current 2014/15 se...

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