New Zealand’s Fonterra cut its 2017/2018 farm gate milk price
|Headlines crossed the wires from New Zealand’s dairy giant Fonterra earlier today, via Reuters, citing that it slashed the farm gate milk price.
Further Details:
Fonterra has cut its 2017/2018 farm gate milk price to NZD 6.70/kg.
FY earnings may be less than 25 - 30 NZ cents per share.
Unlikely to pay a final dividend.
High milk price outs pressure on earnings, says also margins less than forecast.
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