NZ Dairy Feature: Farmers Flush with Cash, but Risk Looms
New Zealand dairy farmers are riding high this year: a record $10/kgMS milk payout from Fonterra, coupled with a $3.2 billion capital return after the co-op sold its consumer brands (like Mainland) to Lactalis. But this windfall comes with a caution. The central concern? If farmers reinvest heavily into more production, they risk repeating history:…