Fonterra says it has cut its farmgate milk price forecast for
2014/15 to $4.70 per kg of milk solids, down from previous
forecast of $5.30 a kg.
Independent Mid Canterbury dairy company Synlait increased
lifted its profit 70% to almost $20 million for the full
year, meeting its downgraded profit forecast made in May.
Fonterra has retained its fourth placing in Rabobank's latest
survey of the world's top 20 dairy companies.
The New Zealand Markets Disciplinary Tribunal has fined
Fonterra $150,000 for breaching continuous disclosure
requirements to the NZX during the dairy manufacturer and
exporter's botulism false alarm last August.
Applications are open for Fonterra farmers to lock in a price
for a percentage of their milk for the 2014-15 season.
Fonterra's forthcoming first-half financial result will come
under close scrutiny this week from analysts and farmers
alike, including expectation of a revision in financial
Fonterra said it had accepted charges laid against it by the
Ministry for Primary Industries (MPI) over events that led to
last year's precautionary market recall of whey protein
Fonterra has hiked its forecast farm-gate milk price to a
record $8.65 per kg of milk solids, with the 35c increase
equating to an increase in dairy incomes of about $600
The recent steep pick-up in Fonterra's cheese and casein
stream prices may be running out of steam, ASB rural
economist Nathan Penny says.
Alliance Group chairman Murray Taggart is standing by his
comment that Fonterra director John Monaghan has withdrawn
from the director appointment process - despite Mr Monaghan
maintaining he has not.
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