Although Rabobank ruffled feathers with its $5.60 forecast milk price for the coming season, chief executive Todd Charteris says farmers have appreciated the warning.
"The discussions I've had with dairy clients is they don't like the message, but they like the heads up" Charteristold The Country's Jamie Mackay.
Farmers would now have a chance to plan ahead, perhaps with a more conservative outlook said Charteris.
"It's early so they can actually start planning for next season, [with] a little bit more of a pessimistic outlook to income levels, so they can start making some decisions on-farm that they may be able to better adapt to potential reductions."
Rabobank was hearing from farmers affected by issues such as livestock processing delays due to the Covid-19 lockdown, said Charteris.
"We're seeing requests for short-term working capital facilities, we're seeing some requests for deferral of principle repayments ... moving to interest only, and we're happy to accommodate that."
