Listen: Fonterra's John Wilson - can Richie McCaw save farming?

Fonterra chairman John Wilson spoke to The Country's Jamie Mackay today about the latest Global Dairy Trade auction, and the dairy co-operative's positive forecast payout and interim six month result.

Fonterra ended the first half of its 2017 financial year with revenue up 5 per cent on the same period last year, and net profit after tax up 2 per cent.

John Wilson said the co-operative had a strong first half and was positive about the future.

Also in the interview (above), Jamie asks John Wilson what Fonterra is planning to do to stop the urban perception that farmers are "villains".

Is hiring Richie McCaw to front the 4am advertisement campaign enough?

Fonterra 2017 Interim Results Highlights

- Forecast Farmgate Milk Price $6.00 per kgMS
- Forecast cash payout $6.40 after retentions*
- Interim dividend of 20 cents per share - to be paid in April
- Revenue $9.2 billion, up 5%
- Normalised EBIT $607 million, down 9%
- Net profit after tax (NPAT) $418 million, up 2%
- Revised forecast earnings per share range of 45 to 55 cents
- Forecast available for payout $6.45 - $6.55*
- Ingredients normalised EBIT $510 million, down 17%
- Consumer and Foodservice normalised EBIT $313 million, up 30%
- Moved an additional 227 million Liquid Milk Equivalent (LME) of milk into Consumer and Foodservice products

*Forecast cash payout after retentions and forecast available for payout applies to a fully shared up farmer