2021/2022 season
| Farmgate Milk Price per kgMS | Forecast cash payout (milk price plus dividend) |
Forecast payout (milk price plus earnings) |
Press releases | |
| Opening Forecast 26 May 2021 | $ 7.25- $8.75 | N/A | N/A | Available here |
2020/2021 season
| Farmgate Milk Price per kgMS | Forecast cash payout (milk price plus dividend) |
Forecast payout (milk price plus earnings) |
Press releases | |
| Forecast Update 26 May 2021 | $7.45 - $7.65 | N/A | Forecast earnings per share range: 25-35 cents | Available here |
| Forecast Update 17 Mar 2021 | $7.30 - $7.90 | N/A | Forecast earnings per share range: 25-35 cents | Available here |
| Forecast Update 5 Mar 2021 | $7.30 - $7.90 | N/A | N/A | Available here |
| Forecast Update 3 Feb 2021 | $6.90 - $7.50 | N/A | N/A | Available here |
| Forecast Update 4 Dec 2020 | $6.70 - $7.30 | N/A | Forecast earnings per share range: 20-35 cents | Available here |
| Forecast Update 15 Oct 2020 | $6.30 - $7.30 | N/A | Available here | |
| Forecast Update 18 Sept 2020 | $5.90 - $6.90 | N/A | Forecast earnings per share range: 20-35 cents | Available here |
| Forecast Update 1 Sept 2020 | $5.90 - $6.90 | N/A | N/A | Available here |
| Forecast Update 17 July 2020 | $5.90 - $6.90 | N/A | N/A | Available here |
| Opening Forecast 21 May 2020 | $5.40 - $6.90 | N/A | N/A | Available here |
2019/2020 season
| Farmgate Milk Price | Forecast cash payout (milk price plus dividend) |
Forecast payout (milk price plus earnings) |
Press releases | |
| Final Update 18 September 2020 | $7.14 | $7.19 | Available here | |
| Forecast Update 17 July 2020 | $7.10 - $7.20 | N/A | N/A | Available here |
| Forecast Update 21 May 2020 | $7.10- $7.30 | N/A | Forecast normalised earnings per share range 15-25 cents | Available here |
| Forecast Update 18 March 2020 | $7.00-7.60 | N/A | Forecast normalised earnings per share range 15-25 cents | Available here |
| Forecast Update 27 February 2020 | $7.00 - $7.60 | N/A | Forecast normalised earnings per share range 15-25 cents | Available here |
| Forecast Update 5 December 2019 | $7.00 - $7.60 | N/A | Forecast earnings per share range 15-25 cents | Available here |
| Forecast Update 22 October 2019 | $6.55 - $7.55 | N/A | N/A | Available here |
| Forecast Update 26 September 2019 | $6.25 - $7.25 | N/A | Forecast earnings per share range 15-25 cents | Available here |
| Forecast Update 3rd September 2019 | $6.25 - 7.25 | N/A | N/A | Available here |
| Opening Forecast 23 May 2019 | $6.25 - $7.25 | N/A | N/A | Available here |
2018/2019 season
| Farmgate Milk Price | Forecast cash payout (milk price plus dividend) |
Forecast payout (milk price plus earnings) |
Press releases | |
| Final Update 26 September 2019 | $6.35 | Available here | ||
| Forecast Update 23 May 2019 | $6.30-$6.40 | Forecast earnings per share 10-15 cents | Available here | |
| Forecast Update 20 March 2019 | $6.30-$6.60 | Forecast earnings per share 15-25 cents | Available here | |
| Forecast Update 28 February 2019 | $6.30-$6.60 | Forecast earnings per share 15-25 cents | Available here | |
| Forecast Update 6 December 2018 | $6.00-$6.30 | Forecast earnings per share 25-35 cents | Available here | |
| Forecast Update 10 October 2018 | $6.25-$6.50 | Available here | ||
| Forecast Update 13 September 2018 | $6.75 | N/A | $7.00-$7.10 | Available here |
| Forecast Update 31 August 2018 | $6.75 | N/A | N/A | Available here |
| Opening Forecast 24 May 2018 |
$7.00 | N/A | N/A | Available here |
2017/2018 season
| Farmgate Milk Price | Forecast cash payout (milk price plus dividend) |
Forecast payout (milk price plus earnings) |
Press releases | |
| Final Update 13 September 2018 | $6.69 | $6.79 | Available here | |
| Forecast Update 10 August 2018 | $6.70 | $6.80 | $6.95-$7.00 | Available here |
| Forecast Update 24 May 2018 |
$6.75 |
$6.90-$6.95 | $7.00-$7.05 |
Available here |
| Forecast Update 21 March 2018 | $6.55 | $6.80-$6.90 | NA | Available here |
| Forecast Update 7 December 2017 | $6.40 | NA | $6.75-$6.85 | Available here |
| Forecast update 25 September 2017 | $6.75 | NA | $7.20-$7.30 | Available here |
| Forecast update 27 July 2017 | $6.75 | NA | $7.20-$7.30 | Available here |
| Opening forecast 24 May 2017 | $6.50 | NA | NA | Available here |
2016/2017 season
| Farmgate Milk Price | Forecast cash payout (milk price plus dividend) |
Forecast payout (milk price plus earnings) |
Press releases | |
| Final update, 25 September 2017 | $6.12 | $6.52 | - | Available here |
| Forecast update, 24 May 2017 | $6.15 | $6.55 | $6.60 - $6.70 | Available here |
| Forecast update, 22 March 2017 | $6.00 | NA | $6.45 - $6.55 | Available here |
| Forecast update, 23 February 2017 | $6.00 | NA | $6.50 - $6.60 | Available here |
| Forecast update, 18 November 2016 | $6.00 | NA | $6.50 - $6.60 | Available here |
| Forecast update, 21 September 2016 | $5.25 | NA | $5.75 - $5.85 | Available here |
| Forecast update, 25 August 2016 | $4.75 | NA | $5.25 - $5.35 | Available here |
| Forecast update, 1 August 2016 | $4.25 | NA | $4.75 -$4.85 | Available here |
| Opening forecast 26 May 2016 | $4.25 | NA | NA | Available here |
2015/2016 season
| Farmgate Milk Price | Forecast cash payout (milk price plus dividend) |
Forecast payout (milk price plus earnings) |
Press releases | |
| Forecast update, 8 March 2016 | $3.90 | NA | $4.35 - $4.45 | Available here |
| Forecast update, 28 January 2016 | $4.15 | NA | $4.60 - $4.70 | Available here |
| Forecast update, 10 December 2015 | $4.60 | NA | $5.05 - $5.15 | Available here |
| Forecast update, 16 November 2015 | $4.60 | NA | $5.05 - $5.15 | Available here |
| Forecast update, 24 September 2015 | $4.60 | NA | $5.00 - $5.10 | Available here |
| Forecast update, 7 August 2015 | $3.85 | NA | $4.25 - $4.35 | Available here |
| Opening forecast 28 May 2015 | $5.25 | NA | NA | Available here |
2014/2015 season
| Farmgate Milk Price | Forecast cash payout (milk price plus Dividend) |
Forecast payout (milk price plus earnings) |
Press releases | |
| Forecast update, 28 May 2015 | $4.40 | $4.60 - $4.70 | NA | Available here |
| Forecast update, 30 April 2015 | $4.50 | $4.70 - 4.80 | NA | Available here |
| Forecast update, 25 March 2015 | $4.70 | $4.90 - $5.00 | NA | Available here |
| Forecast update, 10 December 2014 | $4.70 | $4.95 - $5.05 | NA | Available here |
| Forecast update, 24 September 2014 | $5.30 | $5.55 - $5.65 | NA | Available here |
| Forecast update, 29 July 2014 | $6.00 | $6.20 - $6.25 | NA | Available here |
| Opening forecast 28 May 2014 | $7.00 | NA | NA | Available here |
2013/2014 season
| Farmgate Milk Price | Forecast cash payout (milk price plus Dividend) |
Forecast Payout (Milk price plus earnings) |
Press Releases | |
| Forecast update, 28 May 2014 | $8.40 | $8.50 | NA | Available here |
| Forecast update, 27 February 2014 | $8.65 | $8.75 | NA | Available here |
| Forecast update, 11 December 2013 | $8.30 | $8.40 | NA | Available here |
| Forecast update, 24 September 2013 | $8.30 | $8.62 | NA | Available here |
| Forecast update, 27 August 2013 | $7.80 | $8.12 | NA | Available here |
| Forecast update, 31 July 2013 | $7.50 | $7.82 | NA | Available here |
| Opening forecast 29 May 2013 | $7.00 | NA | NA | Available here |
2012/2013 season
| Farmgate Milk Price | Forecast cash payout (milk price plus dividend) |
Forecast payout (milk price plus earnings) |
Press releases | |
| Forecast update, 29 May 2013 | $5.80 | $6.12 | NA | Available here |
| Forecast update, 27 March 2013 | $5.80 | $6.12 | NA | Available here |
| Forecast update, 27 February 2013 | $5.50 | NA | $5.90 - $6.00 | Available here |
| Forecast update, 10 December 2012 | $5.50 | NA | $5.90 - $6.00 | Available here |
| Forecast update, 28 August 2012 | $5.25 | NA | $5.65 - $5.75 | - |
| Opening forecast 22 May 2012 | $5.50 | NA | $5.95 - $6.05 | - |
2011/2012 season
| Farmgate Milk Price | Forecast cash payout (milk price plus dividend) |
Forecast payout (milk price plus earnings) |
Press releases | |
| Forecast update, 22 May 2012 | $6.05 | NA | $6.45 - $6.55 | - |
| Forecast update, 12 March 2012 | $6.35 | NA | $6.75 - $6.85 | - |
| Forecast update, 13 December 2011 | $6.50 | NA | $6.90 - $7.00 | - |
| Forecast update, 2 September 2011 | $6.75 | NA | $7.15 - $7.25 | - |
| Opening forecast 24 May 2011 | $6.75 | NA | $7.15 - $7.25 | - |
Useful links
Shares and units
As a co-operative, Fonterra requires supplying farmers to hold shares in proportion to the volumes of milk produced by each supplier each season...
Industry regulations
Fonterra was formed by the amalgamation of New Zealand’s two largest dairy co-operatives – New Zealand Co-operative Dairy Company and Kiwi Co-operative Dairies...
Milk Price methodology
The Farmgate Milk Price determines the amount paid for milk delivered to the farm gate by farmer shareholders...
Explore this section
Fonterra business updates and financial results.
