{"id":12588,"date":"2014-09-23T00:00:00","date_gmt":"2014-09-22T12:00:00","guid":{"rendered":"https:\/\/www.farmersweekly.co.nz\/open-country-warns-of-drop\/"},"modified":"2014-09-23T00:00:00","modified_gmt":"2014-09-22T12:00:00","slug":"open-country-warns-of-drop","status":"publish","type":"post","link":"https:\/\/www.farmersweekly.co.nz\/news\/open-country-warns-of-drop\/","title":{"rendered":"Open Country warns of drop"},"content":{"rendered":"<span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\">&lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span><p>That would take OCD\u2019s forecast milk price down to $5.10-$5.30.<\/p>\n<p>The company\u2019s board will decide tomorrow whether to cut the forecast from $5.60-$5.80 or not.<\/p>\n<p>Last month OCD was forecasting $6-$6.20\/kg, which was a downgrade from its opening season forecast.<\/p>\n<p><span>Canterbury-based processor Synlait\u2019s forecast this week dived by $2 to $5.\u00a0 <\/span><\/p>\n<p><span>The company\u2019s opening forecast was $7.<\/span><\/p>\n<p>International milk prices have tumbled more than 45% since February.<\/p>\n<p>Meanwhile, the industry is waiting for a milk price review announcement tomorrow from industry heavyweight Fonterra when it announces its annual results.<\/p>\n<p>The co-op surprised many industry watchers by holding its current $6 forecast recently as other processors cut their predictions and global prices continued to soften.<\/p>\n<p>It is widely expected to announce a cut in forecast tomorrow.<\/p>\n","protected":false},"excerpt":{"rendered":"Milk price forecasts for the season continue to worsen with the country\u2019s second-biggest processor, Open Country Dairy, warning its farmers that another 50c\/kg may be chopped from their 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