2018/19 milk price forecast down to $NZ6.30 (from $6.60)
- Milk production forecast nudged higher
More:
- GDT Price Index is yet to post an increase in the new season
- Prices pressured lower on reasonable global milk supply including a strong start to NZ's season
- world economic growth indicators have cooled a little
- Fonterra has reduced its 2018/19 milk price forecast to $6.75 from $7.00. This still looks optimistic to us. We have lowered our forecast to $6.30, on the assumption that international prices will at least stop falling and even show some mild improvement in 2019
