Fonterra lifts payout forecast to record high

Key highlights   The ASB Commodity Price Index lifted again in all denominations last week, and the NZD remained trading around the middle of its recent range against the USD.   At this point, it seems that most farming areas in the Canterbury region have had few physical affects from the earthquake that has rocked Christchurch and the Canterbury region this week. Media reports suggest that Fonterra’s processing is still running, with some diversions from affected plants.   Our thoughts are with the people of Canterbury during this terrible time.       Report prepared by: Chris Tennent-Brown Economist Phone: +64 9 374 8819 Fax: +64 9 302 0992