Losses expected in Fonterra's annual results

Corin Dann speaks to Federated Farmers' Chris Lewis ahead of the release of Fonterra's annual results. Last month it said it was expecting to post a loss of $590 million to $675 million. As well as revealing the state of its books this morning, the dairy co-op will tell its farmer suppliers how much they will be paid for their milk for the season just ended and reveal its strategy to turn the business around.