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Dry weather forces Fonterra NZ to cut Milk forecast

Dairy co-operative Fonterra cut its forecast for its New Zealand milk collection - the second cut in as many months - as dry weather continued to impact soil moisture and pasture quality.

Fonterra said in a statement it expects milk collection for the 2017/2018 season to be 1,480 kilograms of milk solids (kgMS), down from its forecast in November of 1,525 kg MS and 4 per cent lower than the 2016/17 season.

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