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Are things about to turn around for Fonterra Shareholders’ Fund (ASX: FSF)?

New Zealand based dairy company Fonterra Shareholders’ Fund (ASX: FSF) shares have been on a downward spiral in the last 12 months, dropping from $5.74 at this time last year to close off June 5 at $4.72.

But recent news out of the company could see things turn around

Fonterra yesterday released a global dairy update with increased forecast farmgate milk price for the 2017/2018 season to $6.75 per kgMS with an upgrade to 2018/2019 prices to $7.00 per kgMS.

Fonterra reported its dairy exports grew strongly in all regions with the US logging the highest monthly exports in four years, up 7%, the European Union up 6% and Australia and New Zealand rising 3% and 1% respectively.

Favourable seasonal conditions in Australia saw milk collection jump 26%, but import figures were down in Latin America and the Middle East and Africa.

The dairy space is a competitive one, with $594 million market cap company rivalling the likes of $7.29 billion market cap player A2 Milk Company Ltd (ASX: A2M).

As usual the baby formula sector continues to boom, with Bellamy’s Australia Ltd (ASX: BAL) back on the up after a downtrend throughout March and Bubs Australia Ltd (ASX: BUB) shares up 1.2% to 82c per share at the time of writing after the announcement of a long-term supply agreement with China-based New Times Asia.

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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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