Business
Fonterra (ASX:FSF) share price in focus after boost to forecast milk prices
The Fonterra Shareholders’ Fund (ASX: FSF) share price will be in focus after the dairy co-operative this morning advised lifting its farmgate milk price range for New Zealand farmers. Despite the positive news, Fonterra shares have remained flat so far in morning trade.
Why has the co-op raised its milk price forecast?
The Fonterra share price has failed to respond to this morning’s announcement advising the co-op has raised its expected farmgate milk price for the 2020-2021 season from NZ$6.70–7.30 (AU$7.05–7.68) per kilogram of milk solids (kgMS) to NZ$6.90–7.50 per kgMS.
The company said the midpoint range, which is what farmers receive, had increased to NZ$7.20 per kgMS.
Explaining the roughly 3% increase in the milk…
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