The New Zealand dollar fell to a year-low after Fonterra Cooperative Group cut its forecast payout to farmers for the current season in the face of dwindling dairy prices. The decline was limited by reports Japanese Prime Minister Shinzo Abe is wary of weakness in the yen. The kiwi dollar fell as low as 80.40 US cents after the Fonterra announcement, trading …

Fonterra Cooperative Group has predicated its reduced milk price forecast for the 2014/2015 season on a recovery in dairy product prices of about 30 percent by March next year, chief executive Theo Speirings says.  The world’s biggest dairy exporter today cut its forecast 2015 milk price payout by about 12 percent to $5.30 per kilogram of milk solids from a previous …

Fonterra Cooperative Group cut its forecast 2015 milk price payout by about 12 percent, citing weaker global dairy prices and said there is a risk of further declines given strong global milk production.  New Zealand’s biggest company revised its forecast payout to farmers while releasing its results for the year ended July 31, which showed sales climbed 19.5 percent to …