All smiles at Fonterra with Stu Gray

Are things finally looking up for dairy or should we all calm down? Photo / Alan Gibson

Stu Gray says there are a few smiles in his Fonterra Canterbury office this week and he's hoping that farmers around New Zealand are smiling too after the more positive results in the forecast payout and GDTE recently.

Although Gray is upbeat about the payout he's at pains to remind farmers that this is a prediction and budgeting is still essential.

You can listen to the full interview in the Soundcloud embed below: