Fonterra Payout trending to 9

We keep a regular tab on what’s happening within Fonterra payout. Today they announced earnings for the year but the two numbers that mean most to farmer shareholders and sharemilkers are the final payout for the 2020/21 season and forecast for the current season

2020/21 Final payout: $7.54/kgMS and 20 cents/share

2021/22 Forecast: $7.25-8.75/kgMS and 25-40 cents/share (meaning an upper range of more than $9.00 in total!)

We have updated our graph below accordingly showing payout trends over the last ten years (our dataset does go back to 1999). The horror years of 2015-2016 are now well & truly behind us (though some of the pain remains). The three year rolling average payout, taking into account the current season forecast, is now a solid $7.73/kg milksolids.

Mind you still not quite as good as Lamb price/kg!

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