Today on The Country we investigate Fonterra's announcement of a drop in the forecast milk price payout.

On with the show:

Rob Spurway:

Fonterra's COO of Global Ops and Farm Source comments on this morning's announcement of a drop in the forecast milk price payout from $6-75 to a $6-25 to $6-50 range.

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Winston Peters:

The Deputy PM and New Zealand First leader says "I told you so" when it comes to the forecast $5.5 billion surplus, fuel prices, Simon Bridges and Jami-Lee Ross.

Jane Smith:

Is a high-profile North Otago sheep and beef farmer and former winner of the BFEA who's extremely concerned we run the risk of importing Foot and Mouth Disease through sheep semen and poor biosecurity at our borders.

Maria Augutis:

Our NIWA weather expert warns of a short, sharp polar blast and the prospect of dry spring/summer for some parts of the country.

Dr Tim Mackle:

The Chief Executive of Dairy NZ comments on the payout drop, M. bovis and the dairy industry's response to the government's latest announcement on water quality.

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Listen below: