Fonterrra increases forecast of Farmgate Milk Price

Fonterra Co-operative Group Limited has increased its 2018/19 forecast of Farmgate Milk Price range to $?6.30-$?6.60 per kgMS, up from $?6.00-$?6.30, and revised its forecast earnings down to 15-25 cents per share. Chairman John Monaghan says the improved milk price forecast reflects the increases in global milk prices over the last quarter. “Since our last milk price update in December, global demand has strengthened. This is driven predominantly by stronger demand from Asia, including Greate