Fonterra lifts forecast payout
Dairy cooperative Fonterra lifted its forecast payout to farmers to $6.05 per kilogram of milksolids, from the $5.10 announced in September.
Fonterra has said that it will be reviewing its current 2010/11 payout forecast for milk due to a further drop in international dairy prices and a strong New Zealand dollar.The firm said today that following its latest global dairy auction, the gDT-TWI index was down 8.3%.