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Fonterra Raises Milk Payout Forecast Amid Improved Outlook

Fonterra Raises Milk Payout Forecast Amid Improved Outlook

Fonterra, New Zealand's dairy giant, has revised its milk payout forecast, increasing it by 50 cents. The new forecast range is set between $6.50 to

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Fonterra, New Zealand’s dairy giant, has revised its milk payout forecast, increasing it by 50 cents. The new forecast range is set between $6.50 to $8 per kilogram of milk solids, with a mid-point of $7.25. This adjustment is attributed to changing market conditions and a more optimistic outlook. However, Fonterra’s CEO, Miles Hurrell, also mentioned factors like the El Niรฑo weather pattern and continued volatility in commodity prices and exchange rates, which could impact the season’s outcome. Despite recent improvements in prices, uncertainties remain about the sustainability of increased demand from China.

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