Jamie Mackay: The Country host on Fonterra lowering their farmgate milk prices - Heather du Plessis-Allan Drive

Fonterra's forewarning farmers falling global dairy prices could hit their bottom lines.

The dairy co-op recently cut its seasonal farmgate milk payout midpoint forecast - from $10 to $9.50.

It paid out $10.16 last season.

The Country's Jamie Mackay explained further.

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