News: FSF Fonterra revises 2015/16 forecast milk price

March 8 (Reuters) - Fonterr

• Fonterra revises 2015/16 forecast milk price
• Reduced its forecast farmgate milk price for the 2015/16 season from $4.15 per kgms to $3.90 per kgms
• Fonterra is forecasting its New Zealand milk production to be at least 4 per cent lower than last season
• Difficult conditions in the globally traded dairy market have put further pressure on the forecast
• A total forecast available for payout of $4.35-$4.45 per kgms
• Forecast cash payout of $4.25-$4.30 per kgms for a fully shared-up farmer after retentions
• Long-term fundamentals for dairy are positive with demand increasing at over 2 per cent a year
• Reduction in the supply available for export before then could mean prices recover earlier than currently expected
• All figures in NZ$