Four of six analysts surveyed pulled back their estimates for the payout today, after whole milk powder prices declined 11% at last night's GDT auction, taking the total decline over the past three sessions to 22%.
Estimates for the payout now range between $4.25 and $4.60 a kilogram of milksolids, pulling the top end of the range down from $5.30/kg MS.
Fonterra is set to review its current forecast of $4.60/kg MS in early December. – BusinessDeak
