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Fonterra CEO Miles Hurrell said the co-op is running the numbers on its forecast farmgate milk price after the Global Dairy Trade spike. He said the rise has a New Zealand angle because milk fat prices rose sharply too.
Recent NZ dollar strength affects the 2021-22 season more than the current one.
A higher Global Dairy Trade result is likely to lift Fonterra's farmgate milk price forecasts, which in turn support dairy farm incomes. NZ dollar strength is a partial offset for next season's payouts.
nzherald.co.nzJamie GrayMar 3, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
