Fonterra Chairman John Wilson said in a statement: “We expect global milk supply and demand to come into balance in the course of this season. Farmers globally are producing less milk in response to lower prices and we are forecasting a 3 per cent reduction in our New Zealand milk collection for this season”.
Senior economist at Westpac Bank Anne Boniface said: “Although we expect dairy prices to improve gradually from late 2016 into 2017, the strong New Zealand dollar is likely to weigh on farm gate returns, while at the margin whole milk powder prices have also been a little weaker than anticipated in the first couple of months of the 2016/17 season.” To read more, click HERE.
Published on Tuesday, 16th August 2016 - 09:21
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