Fonterra cuts forecast milk price to NZ$3.90 vs $NZ3.95 prior

Author: Adam Button | Category: News

Fonterra headlines:

  • Sees New Zealand mil production falling at least 4%
  • Time frame for market rebalancing has moved out
  • Reduction in export supply could help prices recover
  • Longterm dairy fundamentals are positive

The forecast in February was $3.95 so it's not a big cut. The newswire headlines only show a cut so there's some kneejerk selling in NZD.

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