One for the kiwi $ traders.
NZ dairy exporter Fonterra has lowered the top end of its forecast farmgate milk price
- the dairy co-operative expects to pay farmer shareholders $8.50-to-$9.50 per kilogram of milk solids
- down from its prior range of $8.50-to-$10.00/kgMS
At the margin a negative for the NZD. Also, Fonterra citing a little less demand, which has wider implications for other markets.