Fonterra revises 2015/16 forecast milk price

Fonterra reduced its forecast Farmgate Milk Price for the 2015/16 season from NZD$4.15 (€2.56) per kgMS to $3.90 (€2.41) per kgMS. When combined with the forecast earnings per share range of NZD$0.45-0.55 (€0.28-€0.34), this means a total forecast available for payout of $4.35-$4.45 (€2.69-€2.75) per kgMS and would currently equate to a forecast Cash Payout of $4.25-$4.30 (€2.62-€2.66)per kgMS for a fully shared-up farmer after retentions. Fonterra is forecasting its New Zealand