Trading Event 158 will begin at 12:00 hours UTC/GMT on Tue 16 February 2016

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Forecast Information - Fonterra

Publication of Pre GDT Auction Data is Delayed

Forecast Offer Quantities (MT) - NZ
Trading Event TE 158 TE 159 TE 160 TE 161 Forecast Change on Previous Forecast
Date 16 Feb 01 Mar 15 Mar 05 Apr
Fonterra 12 Month
Contract 1 0 200 0 300 4,900 0
Contract 2 1,350 1,050 1,140 1,150 52,440 1,440
Contract 3 750 590 700 520 30,230 530
Contract 4 575 450 450 300 17,600 0
Contract 5 350 400 400 400 14,550 0
Contract 6 200 300 300 500 9,200 0
Totals 3,225 2,990 2,990 3,170 128,920 1,970

Publication of Pre GDT Auction Data is Delayed

Forecast Offer Quantities (MT) - AU
Trading Event TE 158 TE 159 TE 160 TE 161 Forecast Change on Previous Forecast
Date 16 Feb 01 Mar 15 Mar 05 Apr
Fonterra 12 Month
Contract 1 100 100 100 100 2,400 0
Contract 2 250 250 250 250 6,000 0
Contract 3 150 150 150 150 3,600 0
Contract 4 100 100 100 100 2,400 0
Contract 5 0 0 0 0 0 0
Contract 6 0 0 0 0 0 0
Totals 600 600 600 600 14,400 0

Monthly Quantities: Fonterra NZ & AU SMP

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

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.