Fonterra chair John Wilson’s message to suppliers:
Today we announced that the forecast Farmgate Milk Price for the 2014/15 season is being reduced from $5.30 per kgMS to $4.70 per kgMS.
When combined with the previously announced estimated dividend range of 25-35 cents per share, this amounts to a forecast Cash Payout of $4.95 – $5.05 for the current season. . .