That would take OCD’s forecast milk price down to $5.10-$5.30.
The company’s board will decide tomorrow whether to cut the forecast from $5.60-$5.80 or not.
Last month OCD was forecasting $6-$6.20/kg, which was a downgrade from its opening season forecast.
Canterbury-based processor Synlait’s forecast this week dived by $2 to $5.
The company’s opening forecast was $7.
International milk prices have tumbled more than 45% since February.
Meanwhile, the industry is waiting for a milk price review announcement tomorrow from industry heavyweight Fonterra when it announces its annual results.
The co-op surprised many industry watchers by holding its current $6 forecast recently as other processors cut their predictions and global prices continued to soften.
It is widely expected to announce a cut in forecast tomorrow.
