Fonterra is the big dairy player in New Zealand, a hike to the forecast should be viewed as a positive input for the NZ dollar

2017/18 forecast to NZD 6.55 per kg of milk solids

  • up by NZ15c/kg
  • Dividend range 25 to 35 cents

Takes total payout to farmers to near its highest in the past 10 years (3rd highest)

The firm cites strong global demand but cautions on weather impacts on production

more to come