Listen to The Country online: Fonterra’s $9.50 milk price midpoint forecast with CEO Miles Hurrell

Fonterra chief executive Miles Hurrell spoke to The Country's Jamie Mackay today. Photo / Alyse Wright

Today on The Country radio show, host Jamie Mackay catches up with Fonterra’s chief executive, Miles Hurrell, to discuss the co-op cutting its milk price midpoint forecast to $9.50/kg.

Fonterra has narrowed its forecast range from $9.00-$11.00 per kg of milksolids (kgMS) to $9.00-$10.00/kgMS, with the midpoint falling from $10.00/kgMS to $9.50/kgMS.

On with the show:

Miles Hurrell:

The chief executive of Fonterra confirms farming’s worst-kept secret – the forecast milk price is now at a midpoint of $9.50 – largely off the back of increased supply both globally and domestically.

Michael Every:

Part one – Rabobank’s Singapore-based global strategist discusses a world economy totally dominated by geopolitics.

Could there be a silver lining for New Zealand farmers if Donald Trump sells out Ukraine?

And does he think the artificial intelligence (AI) bubble will burst?

Part two – Rabobank’s Singapore-based global strategist diverts his focus to the New Zealand economy as we discuss this week’s Official Cash Rate announcement, Trump’s tariffs, the commodity outlook and why food production is still a good business to be in.

Richard Wyeth:

The new chief executive of Synlait and former chief executive of Miraka and Westland Milk joins us after fronting his first AGM of the troubled dairy processor in Christchurch last Friday.

Peter Newbold:

The general manager of PGG Wrightson Real Estate takes his monthly look at the state of the rural market, with dairy farm sales leading the charge.

Listen below: