Fonterra slashes forecast milk price, again
Fonterra has slashed another 50c off its milk price forecast as global milk flows shows no sign of easing.
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Global dairy prices have tumbled in the latest Global Dairy Trade (GDT) event.
The GDT price index dropped by 3.8% compared to the previous event; most products suffered a drop in prices.
It is also the third consecutive drop for the GDT price index.
Whole milk powder prices dropped 4.3% to US$3006/metric tonne.
Butter dropped 5.7%, skim milk powder 3.5% and AMF 3.3% down 3.8%
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