Fonterra cuts payout forecast to $3.85/kg ms for 2015/16

FXStreet (Bali) - Fonterra has cut its payout forecast to $3.85/kg ms for 2015/16, a major reduction which had already been discounted by the market, judging by the reduction in the kiwi.

Headlines via Reuters

Forecast total payout available to farmers in the 2015/16 season will be nz$4.25-nz$4.35

"Farmgate milk price forecast has been reduced from $5.25 kgms to $3.85 per kgms"

Co-operative has announced $4.25 - $4.35 forecast total available for payout for 2015/16

Has reduced its New Zealand milk volume forecast for 2015/16 season to 1,589 million kgms, 2 per cent lower than the previous season

"Now targeting a spend of $500million - $600million less for 2016 financial year compared to fy15"

Fonterra co-operative support of an additional 50 cents per shared-up kilogram of milksolids to support farmers this season