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19 May 2024 17:59
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  •   Home > News > Rural

    Dairy farmers will be breathing a sigh of relief with Fonterra's latest results

    Dairy farmers will be breathing a sigh of relief with Fonterra's latest results


    Fonterra
    Fonterra
    The dairy giant has announced a 23-percent increase in reported earnings.

    Its interim dividend has increased from 10 to 15 cents per share.

    Fonterra isn't slashing its forecast milk payout, despite the price of whole milk powder dropping 8.6 percent since early February.

    It's instead narrowed the forecast Farmgate Milk Price range - keeping the midpoint at 7-dollars-80.

    That midpoint is just above what Dairy NZ says farmers need to earn to break even.

    © 2024 Newstalk ZB, NZCity

     Other Rural News
     17 May: Uncertainty around Fonterra's plan to sell well-known brand Anchor
     17 May: Fonterra's CEO says the co-op's decided to divest a number of overseas operations, for the good of the business
     23 Apr: Sheep farmers are being urged to hang on
     21 Mar: The boss of Fonterra is playing down concerns about the Chinese market
     21 Mar: A good news day for Fonterra shareholders
     20 Mar: There's bad news for dairy farmers on the eve of Fonterra's half year results -- with dairy prices dropping a further 2.8 percent at the latest Global Dairy Trade auction this morning
     13 Mar: Sheep and beef farmers are looking down the barrel of their worst year in 15 years
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