We think there is a 4-in-5 chance that the milk price will end up between
but if you tried to pin us down, our best guess is
Help! What do the grey slash things mean?
When we give a forecast like $6.00/90, the grey number after the slash is the probability that the final Fonterra farmgate milk price will be greater than the blue dollar figure.
The dark, solid line is our best guess. There is a 4-in-5 chance that the final milk price will end up in the shaded band.
The historical Fonterra farmgate milk price forecasts over the last 10 years.
We use auction prices from GlobalDairyTrade to help forecast the milk price. The prices below are not identical to those published by GlobalDairyTrade; in auctions where the product was not sold, or the price was not published, we have imputed a value.
Oscar Dowson has a PhD in Engineering Science from the University of Auckland. He is now a Postdoctoral Fellow at Northwestern University.
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