Fonterra's Regional Head for Canterbury, Marlborough and Tasman, Charles Fergusson spoke to The Country's Jamie Mackay about the latest Global Dairy Trade auction, saying it was a "pretty steady result."

The GDT price index retreated 0.6 per cent from the previous auction two weeks ago with whole milk powder dropping 0.8 per cent to US$3232 a tonne.

Fergusson also comments on Fonterra's controversial investment in Chinese company Beingmate which came under the spotlight this year after it announced its expected loss for 2017 would be far greater than originally forecast.

"Beingmate is front and centre for our farmer shareholders and for the board and for the management team," says Fergusson, who reports he is fielding a lot of questions from farmers.


There are Fonterra farmer roadshows happening in late March where these questions can be answered says Fergusson.

Also in today's interview - Charles Fergusson talks about industry funding for the Mycoplasma bovis response.

Listen below: