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: (full story)