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Fonterra leaves current season forecast price at $3.90; expects improvement in market conditions over new season but urges farmers to be cautious
Fonterra's opening milk price forecast for its farmers for the new season is $4.25 per kilogram of milk solids, while the dairy giant has kept its forecast for the current season at $3.90. This is the statement Fonterra issued: Fonterra Co-operative Group Limited today announced an opening forecast Farmgate Milk Price of $4.25 per kgMS for the 2016/17 season, an increase of 35 cents on the forecast for the current season. Fonterra is required under the Dairy Industry Restructuring Act to announce its forecast Milk Price at the beginning of each season, which starts on 1 June. Chairman John Wilson said the ... (full story)