date:Aug 19, 2015
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Fonterra this month dropped its forecast milk payout to New Zealand farmers to the lowest in at least 10 years after a global glut and weak demand from China drove global dairy prices to a 12-year low. The company said Aug. 13 it will offer a third less whole milk powder over the next four auctions, which may help to drive prices higher.
It could be up double-digit in whole milk powder, said Doug Steel, senior economist at the Bank of New Zealand in Wellington. I wouldnt get too carried aw