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Tim Mackle: Dairy NZ chief executive on Fonterra reducing its season forecast milk payment to farmers
Since the news of Fonterra recording a 50 percent increase in record profits, it has now cut its season forecast milk payment to farmers.
The forecasted payments have lowered to a range of $8.00 to $8.60 per kg of milk solids, reducing the midpoint of the range by 20 cents from $8.50 to $8.30 per kg.
They are putting the blame on global demand from China weakening.
Dairy NZ chief executive Tim Mackle joined Mike Hosking.
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