Nathan Penny from ASB Bank in New Zealand does not expect a change in the milk price forecast on Monday.
ADVERTISEMENT
Economist with ASB Bank in New Zealand Nathan Penny said sources in the world’s largest dairy co-op have indicated an update on the forecast milk price and dividend payment will be made on Monday.
Although Fonterra has not confirmed this, the announcement by has come as a surprise to many. It was September last year before any announcement was made. Penny said the New Zealand co-op will also make an announcement on earnings per share and give a global dairy market update.
The present Fonterra milk price forecast stands at $4.25/kg milk solids (21c/l) and Penny does not expect any change from Monday’s update. WMP (whole milk prices) average prices of US $2,079 at the last GDT auction would generate just $3.71/kg before processing costs. This would need to be over US $3,000 before a breakeven milk price of $5.25/kg becomes attainable.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
Economist with ASB Bank in New Zealand Nathan Penny said sources in the world’s largest dairy co-op have indicated an update on the forecast milk price and dividend payment will be made on Monday.
Although Fonterra has not confirmed this, the announcement by has come as a surprise to many. It was September last year before any announcement was made. Penny said the New Zealand co-op will also make an announcement on earnings per share and give a global dairy market update.
The present Fonterra milk price forecast stands at $4.25/kg milk solids (21c/l) and Penny does not expect any change from Monday’s update. WMP (whole milk prices) average prices of US $2,079 at the last GDT auction would generate just $3.71/kg before processing costs. This would need to be over US $3,000 before a breakeven milk price of $5.25/kg becomes attainable.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS