Comments from Chairman of Fonterra John Wilson hitting the wires

  • Global prices unsustainably low

(I'm gonna copy that and paste it in for all future comments from people on oil, iron ore, nickel, copper .... etc., etc. :-D )

  • Expects milk production to fall 5 -6% this season

(Lucky the Saudis ain't in the dairy market, eh?)

  • Says growth in European milk production will slow
  • China unlikely to suddenly lift import requirements