Sometimes I wonder if it’s the NZD being traded or the outlook for Fonterra. If it’s the latter, this in morning news from NZ:
- FONTERRA pegged its forecast milk price 70c a kilogram below the level indicated by the Milk Price Manual
- eEarnings forecast for the 2014 financial year has been cut to $500 million-$600m
- This will cut the dividend forecast for the full year from 32c to 10c
Added: Much more here (thanks to Mungo in the comments for the link): ‘Abnormal’ situation hits Fonterra forecasts
