Headlines on Bloomberg
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More:
- Bank Of New Zealand forecasts Fonterra 2014-15 payout at NZ$4.90/Kg, from $5.30
- Says there is a clear downside risk to Fonterra’s current $5.30 forecast (ps. Fonterra have said as much, noting that “wholemilk powder prices would need to reach US$3500 a tonne by March next year if its revised farmgate forecast of $5.30 a kg of milksolids is to be achieved.”)
- BNZ say a bounce like this would be a “struggle to see given current indicators”
- “Combined with some increase in milk production this season, the milk price reduction from last season’s NZ$8.40 equates to a slump in dairy revenue over the coming 12-18 months in the order of NZ$5.5b or the equivalent of about 2.3% of GDP”
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