Wholemilk powder prices, which play a big part in the
formation of Fonterra's farmgate milk price, rallied by 19.1%
to US$1856 a tonne at this morning's GlobalDairyTrade
auction, raising hopes that prices may finally have turned.
Fonterra's market share in the South Island has slipped
beneath the 80% threshold specified in its enabling
legislation, the Dairy Industry Restructuring Act, Minister
for Primary Industries Nathan Guy says.