Fonterra shaves 50c off forecast milk price
Fonterra has dropped its forecast milk price mid-point by 50c as a surge in global milk production is putting downward pressure on commodity prices.
The first and most obvious offenders are the activists at Greenpeace.
We can largely discount this crowd's opinion of dairy though; it doesn't matter what the dairy industry does, Greenpeace will always say it is "bad".
They threw it all at Fonterra last week: the price of butter, climate change, water quality, etc, etc. Not a single good thing to say about a $4.2 billion capital injection into the economy.
Joining them as an unlikely bedfellow was politician Winston Peters, who is determined to play this sale for his own political gain.
Milking It reckons, if Peters finds himself on the same page as the Greenpeace activists, he's on the wrong page!
