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BRIEF-Fonterra revises 2015/16 forecast milk price

Published 08/03/2016, 06:42 am
Updated 08/03/2016, 06:50 am
BRIEF-Fonterra revises 2015/16 forecast milk price

March 8 (Reuters) - Fonterra:

* Fonterra revises 2015/16 forecast milk price

* Reduced its forecast farmgate milk price for the 2015/16 season from $4.15 per kgms to $3.90 per kgms

* Fonterra is forecasting its New Zealand milk production to be at least 4 per cent lower than last season

* Difficult conditions in the globally traded dairy market have put further pressure on the forecast

* A total forecast available for payout of $4.35-$4.45 per kgms

* Forecast cash payout of $4.25-$4.30 per kgms for a fully shared-up farmer after retentions

* Long-term fundamentals for dairy are positive with demand increasing at over 2 per cent a year

* Reduction in the supply available for export before then could mean prices recover earlier than currently expected

* All figures in NZ$

Source text for Eikon ID:nNZW70nH4

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