Farmers are trudging around a little deeper in the mud after a fall in Fonterra’s expected payout to dairy farmers. As reported Fonterra cut its forecast Farmgate Milk Price — from eight-dollars-per-kilogram of milk solids, to just seven-dollars due to reduced demand for whole milk powder from the likes of China. Federated Farmers Dairy Chair Richard McIntyre says its a challenging time for farmers with high interest rates, high input costs and now a milk price well below the break even price. Richard joins Mark Leishman on Round Up.
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