Should be up at the top of the hour – Fonterra to announce milk pay-out price.
Forecasts for the payout have been falling recently, contributing to the weakening of sentiment toward the NZD.
Recent forecasts:
- ASB expects Fonterra 2014/15 to lower milk payment to $NZ6.2/kg
- ANZ are at $6.25
- Westpac expects Fonterra 2014/15 milk payment at $NZ6/kg
I’m with Westpac, at 6 bucks even.
I can’t see the NZD doing much more than continuing to fall on the announcement, unless its some huge topside surprise (spoiler alert … ain’t gonna happen). Even a bounce will attract the sellers.
