Latest / The SME Stream / Jamie Mackay: The Country host on Fonterra posting a stronger-than-expected net profit

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Jamie Mackay: The Country host on Fonterra posting a stronger-than-expected net profit · The SME Stream

• 0:00
  Speaker 1: It's the nuts, Hayden, your metro, Heather, it's the nuts.
• 0:03
  Speaker 1: The bolt would be cast into the concrete. You're right,
• 0:05
  Speaker 1: Hither it's a high probability that they use cast in
• 0:07
  Speaker 1: bolts and only the nuts were removed. So there we go.
• 0:10
  Speaker 1: How about me, lady splain and that engineer into year
• 0:13
  Speaker 1: six twenty five and with me right now is Jamie McKay,
• 0:15
  Speaker 1: Host of the Country. Hello, Jamie.
• 0:18
  Speaker 2: Gooda Heather, and congratulations on little Heather on the way. Wonderful.
• 0:22
  Speaker 2: You've got the complete seat. It's like getting those rewards
• 0:25
  Speaker 2: from the grocery store. You've got to bang on.
• 0:27
  Speaker 1: I'm taking so totally totally stuck for names, so I'm
• 0:31
  Speaker 1: taking advice on family names. My mum on my side
• 0:34
  Speaker 1: of the family has come up with Estelle apparently or Elizabeth,
• 0:39
  Speaker 1: and your side of the family has.
• 0:44
  Speaker 2: Is it's a question for me or Barry.
• 0:46
  Speaker 1: Well, you've got the same family.
• 0:48
  Speaker 2: Ah, I remember.
• 0:52
  Speaker 1: Any woman in the family right now.
• 0:57
  Speaker 2: I'll just get a look. I think I'm giving people
• 0:59
  Speaker 2: of ice on baby names as like it's just that's
• 1:04
  Speaker 2: it's something you just can't want, isn't it. Well that's
• 1:11
  Speaker 2: a bit well, I guess head of the blows. You're
• 1:17
  Speaker 2: raining the blows down upon me. From a poor southern
• 1:21
  Speaker 2: semi farmer, I'm not really a farmer. I'm I'm a
• 1:24
  Speaker 2: I'm a I'm a George Street farmer. But I've got
• 1:26
  Speaker 2: a dairy farm meeting by zoom later on tonight. I'm
• 1:29
  Speaker 2: going to have to ponder how we can survive the
• 1:32
  Speaker 2: mud and the mere and the swamp and the paddy
• 1:35
  Speaker 2: paddy rice fields that is Southland at the moment.
• 1:38
  Speaker 1: Trying to change from trying to change the subject, don't you.
• 1:40
  Speaker 1: I just want to, Yeah, can I just apologize quickly
• 1:43
  Speaker 1: for all of those sound effects. It's not me, it's
• 1:45
  Speaker 1: producer and he's found the button and loves it. Carry on, Jamie.
• 1:49
  Speaker 2: Well, apart from the weather down south, it's been a
• 1:51
  Speaker 2: good week for farmers here that I know. You just
• 1:53
  Speaker 2: talked to Todd McLay about the f t A with
• 1:57
  Speaker 2: the u A that that's a good deal. It's a
• 2:01
  Speaker 2: good I mean it's a bit of a one sided
• 2:03
  Speaker 2: trade deal. I think we do one point three billion
• 2:05
  Speaker 2: with them. They do something like one hundred and fifty
• 2:07
  Speaker 2: million or something. Well, yeah, one hundred and fifty million
• 2:10
  Speaker 2: with us. It's a good look that's a really good
• 2:12
  Speaker 2: deal for us. I think the big story is and
• 2:14
  Speaker 2: I know you covered this one yesterday as well as
• 2:17
  Speaker 2: the Fonterra announcement, and I will temper that or qualify
• 2:21
  Speaker 2: it by saying I got my air chewed today by
• 2:23
  Speaker 2: a grumpy west Otago dairy farmer. I think in her
• 2:27
  Speaker 2: case it was just because it had been raining for
• 2:28
  Speaker 2: a month solid. But she said to me, stop talking
• 2:31
  Speaker 2: up the dairy price at nine dollars. Everyone's going to
• 2:35
  Speaker 2: be trying ripping off farmers and selling them stuff they
• 2:38
  Speaker 2: can't afford. And I said, look, it is a good
• 2:40
  Speaker 2: news story, but I did some sums just for you, Heather,
• 2:43
  Speaker 2: if you'd bought it, If you were a Fonterra farmer,
• 2:45
  Speaker 2: and you'd bought a Fonterra share, because to supply Fonterira,
• 2:49
  Speaker 2: to supply Fonterra, you need to have shares to equal
• 2:53
  Speaker 2: your production. You could have bought a share in early
• 2:55
  Speaker 2: February for two dollars and twelve cents with your final
• 2:58
  Speaker 2: divid announced yes, at fifty five cents. That is a
• 3:01
  Speaker 2: yield on your share of twenty six percent. Try and
• 3:04
  Speaker 2: get that anywhere else in business. Even now, the shares
• 3:07
  Speaker 2: have jumped from jump thirty cents in the course of
• 3:10
  Speaker 2: this week since Myles Hurrald, a six million dollar man,
• 3:13
  Speaker 2: made the announcement on yesterday. They've gone from three fifty
• 3:16
  Speaker 2: to three eighty. It's still a fifteen percent yield, not
• 3:19
  Speaker 2: to be sniffed at at all. And one more to
• 3:21
  Speaker 2: ponder here. Today I had Mark Delator, chief executive of
• 3:25
  Speaker 2: Open Country Dairy, the second biggest player in the dairy
• 3:29
  Speaker 2: game behind Fonterra, and he was saying, if the government
• 3:32
  Speaker 2: doesn't have any hope at all of doubling export income
• 3:35
  Speaker 2: in the next decade, they're going to have to ramp
• 3:37
  Speaker 2: up dairy production. How do you do it? He's suggesting
• 3:41
  Speaker 2: dairy conversions back on the table. Can you believe that?
• 3:45
  Speaker 1: Can you believe it? Jamie Water blast from the past, Hey,
• 3:47
  Speaker 1: thank you, appreciate it. Jamie McKay, host of the Country,