The New Zealand processor announced its opening milk price for the upcoming season in the range of NZ$8.00—NZ$11.00kgMS, with a midpoint of NZ$9.75kgMS. The current season milk price forecast range was narrowed to NZ$9.60—NZ$9.80kgMS with the midpoint unchanged at NZ$9.70kgMS. Season to date milk collections are up 4% on the prior season at 1,489m kgMS.

Fonterra said the wide range in the opening forecast milk price reflects  potential impacts across the season from ongoing geopolitical risks and inflationary pressures.

The coop’s organic milk price range for the current season is NZ$13.90—NZ$14.10kgMS, with a record midpoint of NZ$14.00kgMS and the opening forecast for the 2026—27 season is NZ$13.00—NZ$15.00kgMS, also with a NZ$14.00kgMS midpoint, reflecting the value customers see in our organic farmers’ milk.

Fonterra also released its Q3 results, reporting strong year‑to‑date results, with total group operating profit rising to NZ$1.8bn from NZ$1.7bn the year before and profit after tax reaching NZ$1.1bn, or NZ65c per share. Excluding Mainland to reflect the underlying business, profit after tax came in at NZ$946m, lifting earnings per share to NZ57c, up from NZ53c a year earlier.