Fonterra Farmgate Milk Price Announcement - NZD higher

Fonterra Farmgate Milk Price Announcement - NZD higher

Fonterra has just announced its Farmgate Milk Price for 2014/15 & forecast for 2015/16 season. The key points are:

Fonterra forecasts to pay NZD$5.25 per kg of Milk Solids in 2015/16 – this is better than had been feared.

Fonterra reduces its 2014/15 payout to NZD$4.40 per kg of milk solids, plus a forecast dividend range of 20-30 cents per share.

Fonterra expects global dairy prices to recover going forward.

The NZD is higher across the board after dipping initially when the 2015/16 payout was erroneously reported to be $4.40.

Current indicative levels are:

NZD-USD 0.7250 / 0.7275
NZD-AUD 0.9375 / 0.9400
NZD-EUR 0.6645 / 0.6670
NZD-GBP 0.4715 / 0.4740
NZD-JPY 89.65 / 89.90

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