INDEPENDENT NEWS

Updated Fonterra Revises Milk Collection Forecast

Published: Sat 30 Dec 2017 11:46 AM
Updated Fonterra Revises Milk Collection Forecast
Fonterra Co-operative Group Limited today revised the forecast for its New Zealand milk collections for the current 2017/2018 season to 1,480 million kilograms of milk solids (kgMS), down from its forecast in November 2017 of 1,525 million kgMS.
Fonterra’s revised forecast of 1,480 million kgMS is down around 4 per cent on the 2016/2017 season which itself was negatively impacted by weather conditions.
Wet conditions experienced by farmers at the beginning of spring improved from late October and into November, but recent dry weather is continuing to impact soil moisture and pasture quality right across the country. Dry conditions are expected to continue, and even if the rain forecast for early in 2018 eventuates, it will not be enough to bring production back to previously anticipated levels.
Fonterra has begun to take volumes of whole milk powder off the Global Dairy Trade platform in response to lower milk supply, and has a programme in place to carefully manage sales both on and off GDT for the rest of the season as a result of the current weather conditions.
ENDS

Next in Business, Science, and Tech

Meridian spilled water to hike electricity prices - Authority ruling
By: RNZ
XE Data Update - RBNZ Official Cash Rate Decision
By: XE Money Transfer
Kiwis Ignore Promise Of Cheaper Power
By: Canstar Blue
COVID-19 Contributes To 1.6 Percent Fall In March Quarter GDP
By: Statistics New Zealand
Transmission Pricing For A Low Carbon Future
By: Electricity Authority
Investor Confidence Falls To Four-year Low
By: ASB Bank
Funding For R&D; In New Zealand – Expert Reaction
By: Science Media Centre
2019 Prime Minister’s Science Prizes Announced
By: Prime Minister Science Prizes
Fuel, alcohol costs to go up from today
By: RNZ
Young Kiwi Astro-photographer Shoots For The Stars
By: Stardome Observatory
Time For EU To Commit To A Level Playing Field For Trade
By: DCANZ - Dairy Companies Association New Zealand
Protecting NZ Fries As Part Of PNZ Pandemic Recovery & Transformation Plan
By: Potatoes New Zealand
Supporting Kiwi businesses to resolve rent disputes
By: New Zealand Government
Understanding 5G Concerns – Expert Q&A;
By: Science Media Centre
Record Monthly Surplus As Imports Dive
By: Statistics New Zealand
View as: DESKTOP | MOBILE © Scoop Media