World's major dairy company lifts forecast farmgate milk price range.

Fonterra Co-operative Group Tuesday lifted its 2021/22 forecast farmgate milk price range to 8.90-9.50 New Zealand dollars (5.96-6.37 U.S. dollars) per kilogram of milksolid (kgMS), up from 8.40-9.00 New Zealand dollars per kgMS. As New Zealand's largest dairy company, Fonterra produces approximately 30 percent of the world's dairy exports. The price increase lifts the range midpoint, which farmers are paid off, by 50 cents to 9.20 New Zealand dollars per kgMS. Fonterra CEO Miles Hurrell said the lift in the 2021/22 forecast farmgate milk price range is good news for both farmers and New Zealand communities. The new midpoint of 9.20 New Zealand dollars per...