Since the news of Fonterra recording a 50 percent increase in record profits, it has now cut its season forecast milk payment to farmers.
Tim Mackle Dairy NZ chief executive on Fonterra reducing 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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