increase font size
Fonterra chief executive Miles Hurrell.
Fonterra has increased its 2024/25 forecast Farmgate Milk Price from $10/kgMS to $10.15/kgMS.
The forecast Milk Price range has also narrowed from $9.70 - $10.30/kgMS to $10.10 - $10.20/kgMS.
Miles Hurrell, Fonterra chief executive, says that as the co-operative closes out the 2025 financial year, he's pleased to increase the forecast for the 2024/25 season by 15 cents.
"We began the season with a wide forecast range to account for potential volatility in commodity prices and exchange rates resulting from geopolitical dynamics," Hurrell says.
"However, Global Dairy Trade prices have remained stable, and when coupled with our well contracted sales book, we have been able to increase our Farmgate Milk Price across the season," he says.
Fonterra has also retained the $10.00 per kgMS forecast for the current 2025/26 season and narrowed the range from $8.00 - $11.00 per kgMS to $9.00 - $11.00 per kgMS.
“Global Dairy Trade prices continue to be strong, supporting the $10.00 per kgMS forecast midpoint for the current season.
“However, it’s still early in the season and the risk of volatility remains, which is reflected in the wide forecast range,” says Hurrell.
Fonterra's FY25 forecast earnings of 65-75 cents per share remains unchanged.
The co-operative will confirm its final Farmgate Milk Price for the 2024/25 season with its FY25 annual results in September.
OPINION: As CEO of the Dairy Board in the 1980s I was fortunate to work with a team of experienced and capable executives who made most of the brand investments that created the international consumer business Fonterra inherited. Soprole in Chile was the largest, but there were more than 20 countries where consumer marketing companies were established and Anchor and other brands were successfully launched.
Fonterra has delivered a fifth straight year of record organic milk price for farmer suppliers.
Fonterra says favourable weather conditions supporting pasture growth is boosting milk production.
Fonterra chair Peter McBride, fellow directors and the management team, will front up farmer shareholders next week to explain the metrics around the proposed $4.22 billion divestment plan.
Fonterra's record financial results released last week will have "a significant positive impact" on regional communities, says Fonterra Co-operative Council chair John Stevenson.
OPINION: Environment Canterbury's (ECan) decision recently to declare a so-called “nitrate emergency” is laughable.
An early adopter of a 10-in-7 variable milking regime, the Lincoln University Demonstration Dairy Farm (LUDF) is tweaking the system this season in search of further boosting farm performance and profitability.
The dairy sector is in a relatively stable position, with strong milk price payout forecasts continuing to offset ongoing high farm costs, according to DairyNZ.
A shameless political stunt is how Federated Farmers is describing the Canterbury Regional Council decision to declare “a nitrate emergency” on the back of its latest annual groundwater quality survey.
Fonterra has delivered a fifth straight year of record organic milk price for farmer suppliers.
Fonterra says favourable weather conditions supporting pasture growth is boosting milk production.
OPINION: Dairy industry players are also falling by the wayside as the economic downturn bites around the country.
OPINION: Methane Science Accord, a farmer-led organisation advocating for zero tax on ruminant methane, will be quietly celebrating its first…
