Fonterra: Reduced its milk volume forecast for the 2014-15 season via ForexLive

Fonterra comments on the wires:

• “Reduced its milk volume forecast for the 2014-15 season to 1,532 million kgms, reflecting the impact of dry weather on production in recent weeks”
• The new forecast of milk volume is 3.3 per cent lower than the 1,584 million kgms collected last season
• Has confirmed that can meet all current sales commitments
• “In light of reduced milk volume forecast,is planning to reduce the quantity of product offered on globaldairytrade auction platform, and via direct sales channels”
• “In the first half of the season, excellent pasture conditions resulted in milk volumes being higher than the previous season”

Headlines via Reuters

NZD off a few points

posted via ForexLive