Dairy farmers awaiting Fonterra's revised milk price forecast

Dairy farmers are anxiously awaiting Fonterra's revised milk price forecast to be announced tomorrow. A cut in the current forecast payout of 5-dollar-25 per kilo of milk solids is widely expected. Hamish Gow, Massey University Professor of Agribusiness says the country's been in the grip of white gold fever which was never sustainable. He discusses the the global forces driving prices down, and the likely impact on the dairy sector and the wider economy.