Fonterra cuts 2014/15 milk payout forecast to NZ$4.40/kg
- Forecasts 2015/16 milk payout of NZ$5.25/kg
- Says market oversupplied with dairy commodities
- Says global prices hadn't increased as expected
- Expects prices to recover
NZD price action choppy - the kiwi $ is illiquid at the best of times, when news hits the movements can be very sharp indeed:
