Fonterra forecasts NZ$9kgMS mid-point in 2022/23

Fonterra forecasts NZ$9kgMS mid-point in 2022/23

Fonterra has announced an opening forecast range of NZ$8.25kgMS – NZ$9.75kgMS with a NZ$9kgMS midpoint, reflecting continued demand for dairy and constrained global supply. Fonterra chief executive Miles Hurrell said Fonterra’s wide range for 2022/23 was a consequence...
Fonterra forecasts NZ$9kgMS mid-point in 2022/23

Fonterra New Zealand cuts price range

Fonterra has revised its forecast farmgate milk price range to a range of NZ$9.10kgMS – NZ$9.50kgMS, down from NZ$9.30kgMS – NZ$9.90kgMS. Fonterra said the milk price revision is due to a number of recent events that have resulted in short-term impact on global demand...
Fonterra forecasts NZ$9kgMS mid-point in 2022/23

Fonterra forecasts record NZ$9.60kgMS

Fonterra has reported its interim half-year results with profits after tax down 7% to NZ$364m. Group revenue rose 9% to NZ$10,797m, while group EBIT was down 11% to NZ$607m as milk prices are in a record high range of NZ$9.30kgMS to NZ$9.90kgMS. The group’s net debt...
Fonterra forecasts NZ$9kgMS mid-point in 2022/23

FAO index keeps rising

Food prices continue to rise with the UN’s FAO index elevated again in February as the index rose 3.9% on the prior month to 140.7 points in February – reaching a new all-time high exceeding the previous record of February 2011 by 3.1 points. The index increase was...
Fonterra forecasts NZ$9kgMS mid-point in 2022/23

FAO index keeps rising

Food prices continue to rise with the UN’s FAO index elevated again in February as the index rose 3.9% on the prior month to 140.7 points in February – reaching a new all-time high exceeding the previous record of February 2011 by 3.1 points. The index increase was...
Fonterra forecasts NZ$9kgMS mid-point in 2022/23

US milk prices rose in December

The all-milk price increased in December, according to USDA’s latest Ag Prices report. The December all-milk price of USUS$0.50/l was highest since the same month in 2014 and 19.1% higher in YOY terms. Average MPP farmgate margins also rose by 4.6% between November...