Julia Jones: Dairy sector expert on Fonterra reducing forecast payout to farmers despite record profits

Fonterra's revised forecast for the 2022/23 shows a worrying outlook for the dairy industry. The milk giant has revised down its farmgate price to between $8.00 and $8.60 per kg of milk solids. It's a sharp drop from the record payout of $9.30 last season. Head of Insight at NZX Limited and dairy sector expert Julia Jones joined Kate Hawkesby. LISTEN ABOVE  See omnystudio.com/listener for privacy information.