Australia's dairies raise milk prices forecast

Two of the largest Australian Dairy announced today that it will increase the redemption price for milk, because the global milk market have stabilized.
Fonterra Australia raised their forecasts for the redemption price to 0.35 A$ while Murray Goulburn is a one-off payment, as well as a loan for farmers in financial distress in Vista. Both forecast that milk prices will again cover the production costs. The Rabobank also would immediately new loans.
Fonterra estimates the average ex-farm price for the Vermarktungssaison 2016/17 on A$ 5.10 per kg. Most recently, the forecast was at 4.75.

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