Forecasts for Fonterra's 2011/12 and 2012/13 payouts have fallen following last night's 10% plunge in prices on the company's global dairy auction system.
According to the 6000 registered traders on New Zealand's online predictions market, iPredict, the 2011/12 payout per kilogram of milk solids (before retentions) is now likely to be $6.74, down $0.07 from the $6.81 forecast when iPredict last reported on Monday.
The 2012/13 payout forecast has been harder hit, and is now just $6.14, down $0.35 or 5.4% from the $6.49 forecast on Monday.
Forecasts for the following three out-years were unaffected by the overnight developments and sit at $7.42 for 2013/14, $7.50 for 2014/15 and a rough early estimate of $7.69 for 2015/16.
iPredict works based on the theory of the wisdom of crowds and anyone can trade in its stocks by signing up for free at https://www.ipredict.co.nz/app.php?do=register. Fonterra stocks can be traded at https://www.ipredict.co.nz/app.php?do=browse&cat=280.
The company is owned by Victoria University of Wellington.
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