Fonterra lifts its farmgate milk price forecast to NZ$6.75/kgms
- Up 2c from prior forecast (issued in May)
- Also announced a forecast earnings per share range of 45 to 55 cents (this would make the forecast total available payout to farmers in the 2017/2018 season $7.20 to $7.30, before retentions)
- Says it sees on ongoing rebalancing of global supply and demand
Should be supportive for the NZD.
