Good news for dairy farmers!

Yesterday Fonterra announced a net profit of $1.168 billion, resulting in a 55 cent dividend payout, the second highest ever!

With the forecast Farmgate milk price average increasing by 50c a kg to $9, it's a sign things are looking more positive for our rural economies.

A local dairy farmer in Ngatea stated that the extra income will go a long way with initial priorities including:

💰 Capital repayments

💰 Updating farm equipment

💰 Investment in tech to future proof operations

It's been a challenging few years for many of our agri-clients, so this news is welcomed. It's a good time to start planning those Autumn campaigns👍