AMF and butter volumes raised a touch
The amount of both anhydrous milkfat (AMF) and butter to be on offer at the next event has been raised slightly. There will be 100t more AMF than was forecast on offer, with the increase in Contracts 2 and 3. This raises the total amount to be offered to 3050t, an increase of 3.4% on the forecast, and 5.2% on the previous event.
There will be 50t more butter on offer, with this increase in Contracts 3 and 4. A total of 1525t of butter will be offered, an increase of 3.4% on both the forecast and the previous event.
The amount of NZ sourced skim milk powder (SMP) and whole milk powder (WMP) to be offered is as previously forecast. There will be 3225t of SMP on offer, down 4.4% from the previous event, and 11650t of WMP on offer, down 15% from the previous event.
Forecast volumes through to April
The volume of AMF to be offered at upcoming events has also been raised from previous forecasts. There will be an extra 350t of AMF offered at the two March events, bringing the total on offer to 3100t per event. The volume forecast to be available at the April 5 event has also been raised by 300t, but there will be less offered at the two April events than the two March events. 2850t of AMF will be offered at each April GDT event.
Butter volumes have been raised a little from previous forecasts. There will be an extra 175t of butter offered at each March event, and another 50t at the April events. However, like AMF, the volume of butter to be offered in April is decreased from March volumes. 1650t of butter will be offered at each March event and 1575t at each April event.
The amount of SMP to be offered is also increased, by 440t for each March event and 470t for the April 5 event. The increases have all been made in Contracts 2 and 3. There will be 3430t of SMP offered at each March event, increasing to 3640t at each April event.
12 month forecasts
An additional 1650t of AMF is to be offered by July, pushing the total for Fonterra's 2016 financial year to 78,375t. This makes the amount of AMF to be offered this season in line with that offered last season.
An extra 550t of butter will be offered by July. There will have been 52,300t of butter offered over the season. Butter volumes remain down on last season, however.
The amount of both NZ sourced and Australian sourced SMP to be offered has been increased by 800t, taking this total for the season to 142,270t. There has been no change to the forecast for WMP.
Fonterra’s total 12 month volumes have been increased to 673,309, an increase of 0.6%.
Click here for a spreadsheet containing historic forecast volumes.
