Fonterra revises its forecast milk price down by up to 1.88ppl equivalent

Due to higher global milk supplies, particularly in Europe and the US, Fonterra has reduced its forecast farm gate milk price for the current 2018/2019 year from $6.75 per kg milk solids (25.32ppl) to $6.25 to $6.50 (23.44ppl to 24.38ppl)

The CEO of Fonterra commented “Global demand is simply not matching current increases in supply”