Fonterra's forecast payout not justifiable - ANZ

FXStreet (Bali) - Tuesday's dairy auction still falls way short to justify the latest Fonterra's forecast payout of NZD$4.70 per kilo milk solid, notes ANZ.

Key Quotes

"The dairy auction produces a dead cat bounce with WMP printing (+1.6%) USD 2,307 vs USD 3,800 needed to justify Fonterra’s forecast payout of NZD$4.70 per kilo milk solid."