Trading Event 200 will begin at 12:00 hours UTC/GMT on Tue 21 November 2017

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For more information on the NZX Dairy Futures Market, please call +64 (9) 309 3672 or email

For trade related enquiries please contact NZX Market Surveillance on +64 (4) 495 2829 or email

Fonterra NZ Offer Quantities and Starting Prices

Butter (Butter) Shipment Months at Seller Ports
Contract 1 (Dec 17) Contract 2 (Jan 18) Contract 3 (Feb 18) Contract 4 (Mar 18) Contract 5 (Apr 18) Contract 6 (May 18)
Sales Group Maximum Supply (MT)
Butter (Butter NZ) 170 950 730 545 190 0
Product Maximum Supply (MT)
Salted 25kg - NZ 170 950 730 545 190 0
Unsalted 25kg - NZ 170 950 730 545 190 0
Starting Prices (USD/MT, FAS)
Salted 25kg - NZ $5,220 $4,680 $4,680 $4,600 $4,585 -
Unsalted 25kg - NZ $5,220 $4,680 $4,680 $4,600 $4,585 -

Forecast Information - Fonterra NZ

Forecast Offer Quantities (MT)
Trading Event TE 201 TE 202 TE 203 TE 204 Forecast Change on Previous Forecast
Date 05 Dec 19 Dec 02 Jan 16 Jan
Fonterra 12 Month
Contract 1 150 150 150 150 3,600 -20
Contract 2 800 800 800 800 15,500 -150
Contract 3 500 500 400 400 10,100 -180
Contract 4 400 400 400 400 7,600 -145
Contract 5 250 250 150 150 4,150 -90
Contract 6 0 0 0 0 0 0
Totals 2,100 2,100 1,900 1,900 40,950 -585
Download CSV

Monthly Quantities: Fonterra NZ Butter

Forecast-legend-box Forecast Apy-legend-box Actual Last 12 Months Atyp-legend-box Actual Two Years Prior

Source: Fonterra

Note: Fonterra has ceased to provide forecast shipment quantities as part of its forecast information

Explanatory Notes

The Starting Prices for the first round of the trading event are set by the sellers.

The Sales Group Maximum Supply shows the maximum quantity of product available for each seller and each contract period (which may be supplied as any combination of the Products listed).

The Product Maximum Supply shows the maximum quantity available for each Product (i.e. product specification) in a Sales Group for each contract period. The Product maximums are determined by the availability of milk and the types of manufacturing facilities available, both of which vary month to month.

Actual sales will depend on which products are demanded most by customers during the Trading Event. The total quantity sold across all products in a Sales Group cannot exceed the Sales Group Maximum Supply.

Fonterra Disclaimer on Forecast Information

The above forecasts provided by Fonterra Co-operative Group Limited or its affiliates (together “Fonterra”) are indicative, have not been independently verified and are subject to considerable uncertainty. The information presented or contained is subject to change from trading event to trading event and may only be considered current as at the date published. No representations or warranties, express or implied, are made as to, and no reliance should be placed on the accuracy, fairness, completeness or correctness of the information. Factors which may cause Fonterra to change its forecast include unexpected variations in the volume of milk received by Fonterra (for example, due to climate events affecting milk production); availability of manufacturing assets and by Fonterra decisions regarding the mix of products to be manufactured from the available milk. Fonterra varies its product mix on a frequent basis in response to changes in the relative prices of various products, committed or expected contractual commitments for non-GlobalDairyTrade products, and manufacturing plant availability. The same factors may lead Fonterra to specify an actual offer quantity for a trading event that differs from the most recent forecast.

This information is provided subject to the Terms of Use for the website.