Trading Event 125 will begin at 12:00 hours UTC/GMT on Wed 01 October 2014

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For more information on the NZX Dairy Futures Market, please call +64 (9) 368 1242 or email dairyfutures@nzx.com

For trade related enquiries please contact NZX Market Surveillance on +64 (4) 495 2829 or email surveillance@nzx.com

Fonterra Offer Quantities and Starting Prices

Cheddar (Ched) Shipment Months at Seller Ports
Contract 1 (Nov 14) Contract 2 (Dec 14) Contract 3 (Jan 15) Contract 4 (Feb 15) Contract 5 (Mar 15) Contract 6 (Apr 15)
Sales Group Maximum Supply (MT)
Cheddar (Ched) 0 750 700 650 0 0
Product Maximum Supply (MT)
Young - NZ 0 750 700 650 0 0
Frozen - NZ 0 750 700 650 0 0
Starting Prices (USD/MT, FAS)
Young - NZ - $2,590 $2,595 $2,640 - -
Frozen - NZ - $2,640 $2,645 $2,690 - -

Forecast Information

Forecast Offer Quantities (MT)
Trading Event TE 126 TE 127 TE 128 TE 129 Forecast Change on Previous Forecast
Date 15 Oct 04 Nov 18 Nov 02 Dec
Fonterra 12 Month
Contract 1 0 0 0 0 0 0
Contract 2 750 780 780 780 13,742 0
Contract 3 700 700 700 690 11,840 0
Contract 4 650 650 650 650 10,330 0
Contract 5 0 0 0 0 0 0
Contract 6 0 0 0 0 0 0
Totals 2,100 2,130 2,130 2,120 35,912 0

Monthly Forecast Quantities: Fonterra Ched

Forecast Actual Last 12 Months Actual Two Years Prior

Source: Fonterra

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

High Solids Cheese Offer Forecast

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Contract 2                        
Contract 3                        
Contract 4                        

The following ranges indicate the total quantity of High Solids Cheese expected to be offered in each trading event and for each contract period from TE88.

Min Max
  500 MT Total volume offered on GDT
  50 MT 200 MT
  Not offered Not offered

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 www.nzxfutures.com website.