Take context from the input text and decide on the accurate relationship between 'Fonterra' and 'milk' from the options provided.
Options: industry, member of, owned by, product/material produced

Fonterra in August slashed its farmgate milk price for the coming season by $NZ1.40 to $NZ3.85 per kilogram of milk solids but since then prices have risen at three successive GlobalDairyTrade auctions to arrest a six-month slide.
product/material produced