Campbell Parker: DairyNZ CEO on farmers being warned to prepare for higher tighter margins as El Niño threatens higher costs

Dairy farmers are preparing for summer of extreme weather patterns.  New Zealand's set to be hit by a strong El Niño system, which raises the prospect of extreme heat, floods, drought, and disruptive weather.  Farmers are being urged to prepare for tighter margins and potential feed shortages, with DairyNZ modelling showing it could push working expenses to $6.78 per kilogram, and the breakeven milk price to $9.07.  DairyNZ CEO Campbell Parker told Mike Hosking the sector remains strong heading into summer, with a lot of debt paid down over the past few seasons due to good milk prices.  LISTEN ABOVE  See omnystudio.com/listener for privacy information.