The Fonterra Shareholders Council says farmers are taking a long-term view when deciding whether to sell off brands like Anchor and Mainland.

Voting closes today, on a proposal to sell Fonterra's consumer arm to French company Lactalis for 4.2 billion dollars.

Fonterra's targeting a capital return of about 400-thousand dollars to the average farmer.

But Council Chair John Stevenson told Mike Hosking that farmers are thinking well beyond short-term benefits.

He says farmers are also thinking about their long-term livelihoods, as they'll be continuing to supply milk well after any capital return.

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