Farmers hope for business reset after Fonterra loss

Dairy farmers are hoping the massive financial hit taken by Fonterra will be used as an opportunity to reset the business for the future.The dairy cooperative delivered a net loss of $196 million for year ended July, after being hit by compensation payouts and investment writedowns. On a brighter note, revenue rose six-percent to $20.4 billion. RNZ Waikato reporter Andrew McRae went out onto green pastures of the region to gauge just how farmers are feeling about the financial hammering their company had taken.