COMMENT:

Our farmers are riding to the economic rescue ... again.

Strong commodity prices and a low dollar (or pound) has been the winning formula in New Zealand for more than a century, and it looks like it still is.

Perhaps it's my years as an agriculture reporter talking, but news this week that Fonterra had upgraded its 2019/20 forecast farmgate milk price range up by 30c, to $6.55-$7.55 per kg of milk solids, struck me as a big deal.

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For context, Fonterra payouts have ranged between $3.63 and $8.40 per kg of solids since the cooperative was formed in

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