• Announced an opening forecast farmgate milk price of $4.25 per kgms for the 2016/17 season • Say "conditions on farm are very challenging" • Says "we are expecting global dairy pricing to gradually improve over the season " • "New Zealand dollar is relatively high and is currently impacting milk prices and our forecasts" More: • Long term fundamentals for global dairy remain positive with demand expected to increase by two to three per cent a year • There is no change to the current 2015/16 season forecast farmgate milk price, which is being held at $3.90 per kgms • In addition to global supply growth slowing, ... (full story)