Fonterra to Reduce Global Auction Offer Amid Dry Spell

GLOBAL – Fonterra has reviewed down its milk volume forecast and planned to reduce its Global Dairy Trade offering after dry weather in the New Year.
calendar icon 29 January 2015
clock icon 1 minute read

Producers have started drying off cows early, resulting in the dairy giant forecasting its milk volume 3.3 per cent below expectations as daily milk production runs 6.1 per adrift of this time last year.

Dry January weather is blamed on rapid deterioration in pasture quality which has altered the industry’s outlook “significantly”.

This is according to group director cooperative affairs, Miles Hurrell, who also reported a drop in the feeding of supplements.

“The situation has changed significantly over the course of this month,” said Mr Hurrell.

“In the first half of the season, excellent pasture conditions resulted in milk volumes being higher than the previous season.”

Commenting on the new forecast, a spokesman said: "The new forecast is 3.3 per cent lower than the 1,584 million kgMS collected last season. The previous milk volume forecast, made in December last year, was 1,584 million kgMS."


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