Karl Dean: Federated Farmers Dairy Chair on Fonterra reporting a 2.8 percent lift in first-half net profit to $750 million

There's a view Fonterra's strong result today is unlikely to climb much more. The dairy giant's reported a 2.8 percent rise in first-half net profit to $750 million. It's also announced a 20 cent lift in the farmgate milk price - and a $9.70 midpoint per kilo of milksolids. Federated Farmers Dairy Chair, Karl Dean, says given global uncertainty, he doesn't think the midpoint will reach $10. "The futures market is sitting around the $9.70-$9.80 mark, so Fonterra's got it pretty much where the futures are." LISTEN ABOVESee omnystudio.com/listener for privacy information.