29-07-2014 00:21 AM | New Zealand

Farmers expecting payout cut

Fonterra farmers are bracing themselves for a $1 cut to the new season's forecast as the co-operative revises its payout today.

Fonterra's board is due to meet today, and farmers and bank economists expect the co-operative to lower the forecast from $7 to $6/kg of milk solids.

A $6/kg payout would mean a $378.5 million hit to the Waikato economy, based on last season's production figures, according to DairyNZ statistics for the 2012-13 season.
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