Fonterra slashes forecast milk price, again
Fonterra has slashed another 50c off its milk price forecast as global milk flows shows no sign of easing.
Last week, owners of a planned greenfield dairy plant in Otorohanga went into voluntary administration after struggling for years to secure capital.
The project rattled farmers in the area, who mostly supply Fonterra. The co-op was bracing to lose suppliers to Happy Valley.
Some Fonterra farmers had made public submissions opposing consent applications lodged by Happy Valley.
