Bad weather has taken a heavy and "highly unusual" toll on Fonterra's milk production as the season heads towards its peak, the co-operative says. For next week's GDT auction, the co-operative's offer volume had been decreased by 930 tonnes of whole milk powder and 50 tonnes of cheddar. Cheddar and butter offer volumes have also been reduced by 1,000 tonnes and 1,050 tonnes respectively. "These reductions in daily milk volumes are highly unusual and Fonterra will continue to monitor the situation closely," it said. New Zealand dairy production normally hits its peak around mid October or early November.

Source: Otago Daily Times October 13, 2016 21:45 UTC