Bleak news has come for dairy farmers this morning.
Fonterra has drastically reduced its forecast Farmgate Milk Price for the current season due to ongoing reduced demand from China.
The midpoint has plummeted from $8/kg of milk solids, to just $7.
Fonterra boss Miles Hurrell is blaming a recent 12 percent drop in the price of whole milk powder, due to much lower than expected demand from China.
The Country host Jamie McKay says this will be make-or-break for many farmers.
Jamie McKay joined Kerre Woodham Mornings.
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