Daily Alert: Fonterra Milk Price forecast bumped to $7.40 kg/ms

  • Dairy prices lifted a further 1.8% at last night’s GDT dairy auction and the continued strength in milk prices has prompted us to lift our forecast for Fonterra’s Milk Price for the current (2020/21) season from $7.00 to $7.40 kg/ms.
  • The big news in yesterday’s RBA Board decision was the announcement to extend the bond buying program by a further $A100bn over six months, when the current Quantitative Easing (QE) program is completed in mid-April (all other policy measures were left unchanged).
  • Locally, this morning’s slew of labour market indicators are the highlight of the local data week.

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