Latest / Best of Business / Jamie Mackay: The Country host previews the Fonterra annual results

Transcript

Jamie Mackay: The Country host previews the Fonterra annual results · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from Newstalks. The'd be follow
• 0:12
  Speaker 1: this and our wide range of podcast now on iHeartRadio.
• 0:16
  Speaker 2: Twenty four past six. Remember, Paul Bloxham's going to be
• 0:19
  Speaker 2: with us after the news, talk us through what's going
• 0:21
  Speaker 2: on with the interest rates at the Reserve Bank of
• 0:23
  Speaker 2: Australia et cetera, et cetera, and whether they're affected by
• 0:25
  Speaker 2: what the Fed did right now with us Jamie McKay,
• 0:28
  Speaker 2: host to the Country A Jamie.
• 0:30
  Speaker 3: Can I hear that?
• 0:30
  Speaker 2: What are you expecting from from TIRA tomorrow?
• 0:33
  Speaker 3: Well, not much in terms of the final milk price
• 0:36
  Speaker 3: for the twenty three to twenty four season. The experts
• 0:39
  Speaker 3: telling me it'll be a rounding exercise. At this stage
• 0:43
  Speaker 3: they're currently sitting at a midpoint of seven eighty. There
• 0:46
  Speaker 3: might be a wee bit of upside. I'd be surprised
• 0:48
  Speaker 3: if there was any downside. I think tomorrow's number that
• 0:51
  Speaker 3: might be of interest is the dividend though announce the
• 0:54
  Speaker 3: final dividend for the twenty three twenty four financial year,
• 0:59
  Speaker 3: remembering in twenty two to twenty three it was fifty cents.
• 1:01
  Speaker 3: But you don't have to go that far back in time.
• 1:04
  Speaker 3: In fact, to twenty eighteen nineteen it was nothing, not sausage, nada,
• 1:09
  Speaker 3: and then in twenty nineteen twenty it was only five cents.
• 1:13
  Speaker 3: So I'm assuming I'm going to make the assumption, perhaps
• 1:16
  Speaker 3: rather foolishly, that that dividend's going to be in excess
• 1:19
  Speaker 3: of last year's fifty cents. Miles hur will probably prove
• 1:22
  Speaker 3: me wrong. At about eight thirty tomorrow morning, we'll have
• 1:25
  Speaker 3: that number confirmed. Wee bit of upside on seven eighty
• 1:28
  Speaker 3: as far as I'm aware. Once again, Miles will probably
• 1:31
  Speaker 3: make a fall of me. I'm not sure they update
• 1:33
  Speaker 3: the current season forecast, which is currently sitting at eight
• 1:37
  Speaker 3: dollars fifty midpoint. Mind you, the futures markets are doing
• 1:40
  Speaker 3: a bit better than that.
• 1:42
  Speaker 2: H Jamie. Sounds like it's a bit tough in Southland
• 1:44
  Speaker 2: for the farmers at the moment with all the rainfall.
• 1:47
  Speaker 3: Yeah, well, you talk about diversification and farming, Heather. I've
• 1:50
  Speaker 3: still got a lot of mates, as you know, you
• 1:51
  Speaker 3: know some of them down in Southland who are sheep farmers,
• 1:54
  Speaker 3: So I think they're going to diversify into growing rice.
• 1:58
  Speaker 3: It's literally like a rice paddy down there. I was
• 2:01
  Speaker 3: talking to an old timer today, And I said, is
• 2:03
  Speaker 3: it worse than the laming of twenty ten or eleven
• 2:06
  Speaker 3: when the roof on stadiums Southland fell collapsed because of
• 2:10
  Speaker 3: all the snow lying on it, Or was it worse
• 2:12
  Speaker 3: than the lambing of eighty six when we not only
• 2:14
  Speaker 3: had rained for three weeks we had Roger Douglas and
• 2:17
  Speaker 3: he said that was almost as bad as the lambing
• 2:19
  Speaker 3: of seventy two. That's how far back some of them
• 2:22
  Speaker 3: are coming. Look, it's been a bloody disaster. You've got
• 2:27
  Speaker 3: no grass, poor utilization of the grass that's growing, eye
• 2:30
  Speaker 3: it all gets stamped and trampled into the mud, and
• 2:34
  Speaker 3: you've got low soil temperatures, not much sunshine, horizontal hail
• 2:39
  Speaker 3: down there today. So look they're in a bit of
• 2:42
  Speaker 3: a fix. But you can go up the road a
• 2:43
  Speaker 3: bit to North Canterbury and they've got completely the opposite problem,
• 2:46
  Speaker 3: and probably a worse one. Those guys can't buy a
• 2:49
  Speaker 3: brake in terms of soil moisture, so they're headed for
• 2:52
  Speaker 3: a stinking drought. It would be fair to say that
• 2:54
  Speaker 3: Southland's a weeway from a trout at the moment.
• 2:57
  Speaker 2: Jamie, good to talk to you. Thank you for that
• 2:58
  Speaker 2: appreciated as Jammie McKay Host of the Country.
• 3:02
  Speaker 1: For more from News talks'b listen live on air or online,
• 3:05
  Speaker 1: and keep our shows with you wherever you go our
• 3:08
  Speaker 1: podcast on iHeartRadio