Fonterra earnings: Now sees 2019-20 milk price of NZ$7.10-NZ$7.30/kg

Fonterra earnings

Forecasts 2020-21 milk price of nz$5.40-6.90/kg.
9 month normalised ebit: $815m.
9 month normalized gross margin: nz$2.5B.
Reaffirms fy20 earnings of 15-25 NZ cents/share.
Now sees 2019-20 milk price of NZ$7.10-NZ$7.30/kg.

We will have RBNZ Chief Economist speaking on monetary policy at the top of the hour