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Fonterra made some big announcements yesterday in its third quarter Financial Report, including a narrower forecast Farmgate Milk Price range for the 2018/19 season.
Fonterra now expects to pay $6.30-6.40 per kilogram of milk solids in the current season - which ends on May 31 - versus its February forecast of $6.30-6.60/kgMS.
Managing Director for Co-operative Affairs Mike Cronin told The Country Early Edition's Rowena Duncum that Fonterra looks 15 months ahead with its range forecast, and still advises farmers to "always budget with caution".
Read more: Fonterra narrows milk price forecast, closes Aussie factory and signals more asset sales