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Round-up: Fonterra forecast explanatory statement

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Farmers Weekly
December 11, 2015
Under the GlobalDairyTrade market rules, Fonterra has committed to advise whenever its offer quantities or forecasts fall outside the guidance ranges published on the GDT information website. It remains Fonterra’s intent to stay within these guidelines where possible. The overall offer quantities in the latest forecast meet these requirements, but the C2 contract volumes in event 154 and event 155 fall slightly outside the specific limits applicable to these events. This statement provides information on Fonterra’s offer quantity for whole milk powder (WMP) contract 2 which is outside the published guidance ranges as follows:
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  • Our previous forecast of WMP contract 2 offer quantity at trading event 154 was 6200t, with guidance ranges of ±500t.
  • Fonterra’s actual offer quantity for WMP contract 2 at trading event 154 is 5530t, which is 670t below our previous forecast and outside the guidance range by 170t.
  • Our previous forecast of WMP contract 2 offer quantity for trading event 155 was 6300t, with guidance ranges of ±1000t
  • Fonterra’s forecast for WMP contract 2 for trading event 155 is 5000t, which is 1300t below our previous forecast and outside the guidance range by 300t.

In total, Fonterra’s WMP volume offer forecast has been reduced by 14,300t over the next twelve months. This reflects lower forecast New Zealand milk collection, and continued successful contracting through other sales channels.

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