7 Dec 2009

More losses expected by offshore farming company

7:24 am on 7 December 2009

New Zealand Farming Systems Uruguay is picking further losses despite stronger global dairy prices.

The company says it remains comfortable with analysts' forecasts of an operating earnings loss of between $US10 - $US15 million for the June 2010 year, and a narrower loss the year after.

It says milk prices have increased by half from its estimated 20 US cents per litre, to around 30 US cents per litre.