Fonterra shaves 50c off forecast milk price
Fonterra has dropped its forecast milk price mid-point by 50c as a surge in global milk production is putting downward pressure on commodity prices.
Former director Stuart Nattrass has vetoed the independent selection process to stand as a self-nominated candidate after securing the nomination of at least 35 shareholders.
His group of nominators are interesting -- they include a former Federated Farmers chairman, a former Feds dairy chairman and a former Fonterra board member.
A well-known corporate farmer from Bay of Plenty and others are also on the list.
