Fonterra set to cut farmgate milk price – MSN

Fonterra set to cut farmgate milk price – MSN

Fonterra is expected to cut its forecast farmgate milk price for the current season as early as Thursday in line with weaker global dairy prices.

While the GlobalDairyTrade price index edged up 0.4 per cent at Tuesday night’s auction, snapping four consecutive declines, that wasn’t enough to sway analysts from their belief that Fonterra will need to lower its forecast for the upcoming season when it reviews the milk price this month as part of its obligations under the Dairy Industry Restructuring Act.

By MSN

https://www.msn.com/en-nz/news/finance-business/fonterra-set-to-cut-farmgate-milk-price/ar-BBGhyT5?ocid=News