Fonterra keeps forecast milk payout unchanged for 2014/15

• Fonterra keeps forecast milk payout unchanged for 2014/15
• Kept at NZ$6/kg

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Headlines on Bloomberg

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Earlier there was the expectation of a Fonterra announcement at 0155GMT …. I don’t know whether or not this is the announcement though (if so its about 55 minutes early).

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Fonterra’s statement to the New Zealand stock exchange:

• “Fonterra Co-operative Group Limited today maintained its forecast Farmgate Milk Price for the 2014/15 season at $6.00 per kgMS. Along with a previously announced estimated dividend range of 20-25 cents per share, the forecast Cash Payout for the season is $6.20-$6.25. Chairman John Wilson said the decision to maintain the forecast Farmgate Milk Price reflected the longer term outlook for international prices for dairy.”