Estimates for Fonterra’s farmer payout tumble on weak GDT – Scoop.co.nz

Estimates for Fonterra’s farmer payout tumble amid weak dairy prices

By Tina Morrison

Nov. 18 (BusinessDesk) – Forecasts for Fonterra Cooperative Group’s payout to New Zealand farmers this season have tumbled below the company’s estimate following the third consecutive decline in prices on the GlobalDairyTrade platform.

Four of six analysts surveyed by BusinessDesk pulled back their estimates for the payout today, after whole milk powder prices declined 11 percent at last night’s GDT auction, taking the total decline over the past three sessions to 22 percent. Estimates for the payout now range between $4.25-$4.60 per kilogram of milk solids, pulling the top end…

Read the full article at: http://www.scoop.co.nz/stories/BU1511/S00614/estimates-for-fonterras-farmer-payout-tumble-on-weak-gdt.htm