Weak dairy prices prompt pull back in expectations for payout to NZ dairy farmers this season

Thu, 02 Jul 2015

By Tina Morrison July 2 (BusinessDesk) - Weak dairy prices have prompted analysts to pull back their expectations for Fonterra Cooperative Group's payout to farmers this season, with most forecasts now sitting below the dairy exporter's projection. Average prices dropped 5.9 percent to a six-year low in the GlobalDairyTrade auction overnight, paced by a 10.8 percent decline in whole milk powder, the nation’s key export commodity. Continued weakness in dairy prices is being driven by increased supply from New Zealand, Europe and the US ami...

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