Encouraging news for dairy farmers with the head of Fonterra saying there’s light at the end of the tunnel.
Global dairy prices dropped 7.4% last week, with whole milk powder plunging 10.9%.
Fonterra’s twice recently cut its forecast Farmgate Milk Price.
It’s put the midpoint at $6.75 per-kilo of milk solids, down from $7.
Fonterra CEO Miles Hurrell told Mike Hosking that there’ll be a bit of pain over the next few months but demand is picking up.
He says he’d like to think by the end of this year into early next year there’ll be signs of life.
