Fonterra has announced its second highest ever dairy payout and, more importantly, a significant reduction in it's gearing resulting from the earlier decision to allow limited trading of its shares by farmers. Coincidentally, last nights international auction saw prices rise a further 1.9%.
Any cow cocky who is struggling to pay his interest bill under these blissfully generous conditions deserves to be sold up and the banker who lent him the money deserves to take a bath.
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