Jamie Mackay: The Country host on Fonterra's cautious optimism about the farmgate milk price payout - Heather du Plessis-Allan Drive

Fonterra is being cautiously upbeat about the future.

The dairy co-op is forecasting a $10 farmgate milk price payout for the current season, and an earnings range of 65 to 75 cents a share.

The Country's Jamie Mackay explains what this means for the market.

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