Fonterra Co-operative Group’s opening forecast milk price is a “solid number”, but the wide range around it is “very real”, its chief financial officer says.
The co-op will open the new dairy season with the same range as at the start of the outgoing season, between $8/kgMS and $11/kgMS, but with a slightly lower opening price of $9.75/kgMS.
It is slightly higher than the SGX-NZX NZ Milk Price Futures, which have been trading at $9.70/kgMS, and at the upper end of the major banks' forecasts.
It started the outgoin...
