1 00:00:00,080 --> 00:00:03,200 Speaker 1: Jamie mckaye, host of the Countries with us JME got 2 00:00:03,240 --> 00:00:04,640 Speaker 1: I hear that how good is Fonterra. 3 00:00:05,960 --> 00:00:09,119 Speaker 2: Pretty damn good, especially if you're a Fonterra farmer. Shareholders 4 00:00:09,160 --> 00:00:11,160 Speaker 2: about ten thousand of them around the country, and I 5 00:00:11,200 --> 00:00:14,440 Speaker 2: reckon they'll be turning up in Hamilton Heather in a 6 00:00:14,480 --> 00:00:17,599 Speaker 2: couple of weeks time and possibly spending up large, especially 7 00:00:17,640 --> 00:00:21,279 Speaker 2: when you consider the new tax incentive scheme put in 8 00:00:21,320 --> 00:00:23,520 Speaker 2: place in the budget by the government. But getting back 9 00:00:23,560 --> 00:00:27,680 Speaker 2: to Fonterra today, look, ten dollars is locked and loaded. 10 00:00:27,720 --> 00:00:30,400 Speaker 2: That's the worst world's worst secret for this season, which 11 00:00:30,440 --> 00:00:33,600 Speaker 2: we're going to finish on what Saturday night, Sunday morning. 12 00:00:34,680 --> 00:00:37,440 Speaker 2: The really interesting number and the most eagerly awaited number 13 00:00:37,479 --> 00:00:41,240 Speaker 2: from their Q three update today was the forecast opening 14 00:00:41,280 --> 00:00:44,360 Speaker 2: price for the twenty five twenty sixth season, and they 15 00:00:44,400 --> 00:00:47,159 Speaker 2: came in at ten dollars, which was probably, I think 16 00:00:47,240 --> 00:00:51,240 Speaker 2: above market expectation. Their range is quite wide. They've gone 17 00:00:51,280 --> 00:00:54,639 Speaker 2: eight dollars to eleven dollars. Midpoint of that would obviously 18 00:00:54,680 --> 00:00:57,560 Speaker 2: be nine point fifty. But Miles Hurrell saying, look, we 19 00:00:57,600 --> 00:01:00,640 Speaker 2: see really positive signs despite everything that happening in the 20 00:01:00,640 --> 00:01:04,040 Speaker 2: world geo politically out there. So if dairy farmers can 21 00:01:04,080 --> 00:01:07,360 Speaker 2: get ten dollars two years in a row, that's great 22 00:01:07,360 --> 00:01:09,720 Speaker 2: for them. It's great for the rural economy, and it's 23 00:01:09,760 --> 00:01:13,240 Speaker 2: great for New Zealand's economy because they are our biggest business. 24 00:01:13,280 --> 00:01:16,640 Speaker 2: The other numbers out there, Heather, the dividend, I mean 25 00:01:16,640 --> 00:01:18,840 Speaker 2: they get the milk price that's ten bucks. What will 26 00:01:18,880 --> 00:01:22,000 Speaker 2: the dividend be while judging on what Miles Hurrell was 27 00:01:22,040 --> 00:01:24,520 Speaker 2: saying on my show that it could be up around 28 00:01:24,720 --> 00:01:27,600 Speaker 2: fifty cents. And I looked at the share price today, Heather, 29 00:01:27,640 --> 00:01:30,399 Speaker 2: it closed at four dollars sixty four. So if you 30 00:01:30,440 --> 00:01:34,640 Speaker 2: get a fifty cent yield on that, that's a fifty 31 00:01:34,680 --> 00:01:37,840 Speaker 2: per cent dividend? Should I say that's an eleven percent yearld? 32 00:01:37,880 --> 00:01:40,560 Speaker 2: Really interesting in the other one out there that I 33 00:01:40,640 --> 00:01:42,560 Speaker 2: threw at Miles Hurle and he kind of duckted to 34 00:01:42,600 --> 00:01:44,280 Speaker 2: cover a wee bit. Wouldn't put a number on it. 35 00:01:44,319 --> 00:01:47,240 Speaker 2: Obviously it's too early. But when they flag off the 36 00:01:47,280 --> 00:01:50,920 Speaker 2: consumer brand's business that's going to be it looks like 37 00:01:51,160 --> 00:01:54,160 Speaker 2: quite a windfall for Fonterra shareholders. They might get back 38 00:01:54,200 --> 00:01:57,960 Speaker 2: as much as two dollars two dollars per share, so 39 00:01:58,000 --> 00:02:01,160 Speaker 2: at four dollars sixty four, take away two dollars. The 40 00:02:01,200 --> 00:02:03,840 Speaker 2: Shears don't know them much, but do remember, Heather a 41 00:02:03,840 --> 00:02:05,960 Speaker 2: few years ago they were at six bucks. So some 42 00:02:06,000 --> 00:02:07,560 Speaker 2: people who bought on a high have got a weep 43 00:02:07,560 --> 00:02:08,600 Speaker 2: bit of catching up today. 44 00:02:08,760 --> 00:02:11,040 Speaker 1: Yeah, Pairentop, what are you buying at Peel Days? 45 00:02:12,840 --> 00:02:17,320 Speaker 2: Well nothing really. I was going to say a Queen 46 00:02:17,440 --> 00:02:20,360 Speaker 2: Street farmer, Heather, but that's not quite right. I'm a 47 00:02:20,560 --> 00:02:24,480 Speaker 2: George Street farmer here in Dunedin. So now look, I 48 00:02:25,080 --> 00:02:28,000 Speaker 2: literally turn up there, do my show, do my interviews, 49 00:02:28,040 --> 00:02:30,440 Speaker 2: do the client stuff, and then walk out. The only 50 00:02:30,480 --> 00:02:33,880 Speaker 2: thing I spend in Hamilton is probably in a bar 51 00:02:34,080 --> 00:02:36,360 Speaker 2: later on the evening. It's a very social event. 52 00:02:36,600 --> 00:02:39,000 Speaker 1: How good, Jamie, Thank you as always, it's wonderful to 53 00:02:39,040 --> 00:02:40,840 Speaker 1: talk to you. Go well, it's Jamie McKay, Host of 54 00:02:40,840 --> 00:02:41,320 Speaker 1: the Country. 55 00:02:41,960 --> 00:02:45,160 Speaker 2: For more from Heather Duplessy Allen Drave, listen live to 56 00:02:45,240 --> 00:02:48,280 Speaker 2: News Talks it'd be from four pm weekdays, or follow 57 00:02:48,320 --> 00:02:50,080 Speaker 2: the podcast on iHeartRadio.