Fonterra's lowered this season's forecast milk payout following the recent drop in global dairy prices. 

The midpoint has dropped from $9.75 to $9.25 – well below the $9.70 payout currently forecast for last season. 

Prices at Global Dairy Trade auctions have fallen 11% since the opening forecast was announced in May. 

Fonterra CEO Richard Allen told Mike Hosking demand has been softer than anticipated, while production —globally and in New Zealand— has been very strong. 

He says overall demand is still there, it’s just not quite as strong as they thought it was going to be. 

LISTEN ABOVE 

Fonterra's lowered this season's forecast milk payout following the recent drop in global dairy prices.&nbsp;
The midpoint has dropped from $9.75 to $9.25 – well below the $9.70 payout currently forecast for last season.&nbsp;
Prices at Global Dairy Trade auctions have fallen 11% since the opening forecast was announced in May.&nbsp;
Fonterra CEO Richard Allen told Mike Hosking demand has been softer than anticipated, while production —globally and in New Zealand— has been very strong.&nbsp;
He says overall demand is still there, it’s just not quite as strong as they thought it was going to be.&nbsp;
LISTEN ABOVE&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Richard Allen: Fonterra CEO explains cuts to the 2026/27 Milk Price Forecast

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e96b035a-6a91-44e4-ba61-b4860163f7c9/transcript

If I was generous, I would let him off, given he has got more portfolios than anyone. 

But Paul Goldsmith has delivered to Parliament the bit of legislation that will finally finish off the Broadcasting Standards Authority. 

He did it with a flourish of slightly embarrassing bonhomie. 

He saw its delivery as being the delivery of a promise, the promise being we would get legislation in the house before the election. 

Technically he is correct. More realistically it means nothing, given Parliament is finished today and the legislation goes nowhere. 

Under a different set of circumstances, at a different time, in a different election campaign, this sort of thing might have mattered. 

The same way the Waitangi Tribunal review, that will go nowhere, would have mattered. Or the MAPAS medical school review, that will go nowhere, would have mattered. 

Saying stuff and delivering on it should matter and this Government's weakness has been talking up big games all over town and not quite getting them across the line. 

In reality though, it won't matter because in the grand scheme of things these issues are not a play for the majority of voters this time around. 

This time around it's merely about the hole the Government has been digging us out of. 

Did they do enough? Is the Labour damage repaired enough for you to believe that the current collective should be allowed to carry on? 

That is the beginning, middle, and end of it. 

Whether we have a BSA will not shift one vote, not even mine, and I'm one of the more exercised on the issue. 

The same way they changed the law on earthquake prone buildings, the removal of the BSA won't change the world. But the world will make more sense without it. 

It was irrelevant, wasteful and didn’t change a thing. No one was better because of it and all it did was eat up hours and dollars of broadcasters' time, filing reports from bored agitators who wanted to cause trouble. 

If Goldsmith had been more efficient and actually done it properly, it would have been a nice, term one parting gift. 

As it stands, it's at least something to look forward to next year. 

If I was generous, I would let him off, given he has got more portfolios than anyone.&nbsp;
But Paul Goldsmith has delivered to Parliament the bit of legislation that will finally finish off the Broadcasting Standards Authority.&nbsp;
He did it with a flourish of slightly embarrassing bonhomie.&nbsp;
He saw its delivery as being the delivery of a promise, the promise being we would get legislation in the house before the election.&nbsp;
Technically he is correct. More realistically it means nothing, given Parliament is finished today and the legislation goes nowhere.&nbsp;
Under a different set of circumstances, at a different time, in a different election campaign, this sort of thing might have mattered.&nbsp;
The same way the Waitangi Tribunal review, that will go nowhere, would have mattered. Or the MAPAS medical school review, that will go nowhere, would have mattered.&nbsp;
Saying stuff and delivering on it should matter and this Government's weakness has been talking up big games all over town and not quite getting them across the line.&nbsp;
In reality though, it won't matter because in the grand scheme of things these issues are not a play for the majority of voters this time around.&nbsp;
This time around it's merely about the hole the Government has been digging us out of.&nbsp;
Did they do enough? Is the Labour damage repaired enough for you to believe that the current collective should be allowed to carry on?&nbsp;
That is the beginning, middle, and end of it.&nbsp;
Whether we have a BSA will not shift one vote, not even mine, and I'm one of the more exercised on the issue.&nbsp;
The same way they changed the law on earthquake prone buildings, the removal of the BSA won't change the world. But the world will make more sense without it.&nbsp;
It was irrelevant, wasteful and didn’t change a thing. No one was better because of it and all it did was eat up hours and dollars of broadcasters' time, filing reports from bored agitators who wanted to cause trouble.&nbsp;
If Goldsmith had been more efficient and actually done it properly, it would have been a nice, term one parting gift.&nbsp;
As it stands, it's at least something to look forward to next year.&nbsp;

Mike's Minute: The BSA legislation should have been delivered sooner

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/39e8daab-d181-4221-a985-b4cd016ac297/transcript

National's Police Spokesperson's batting away questions over why their Labour attack ad uses crime footage from the Government's own term.  

The video's claims Labour was soft on crime is juxtaposed with clips of offending committed early during the coalition Government.  

Labour says it's dishonest and desperate.  

But Mark Mitchell told Mike Hosking they have a great digital team who put a lot of campaign material together.  

He says one of the most important issues for people during the 2023 campaign was law and order, which after their term in Government, is now ranked at number seven or eight. 

Labour's Ginny Andersen says it shows they're not credible on the subject. 

LISTEN ABOVE 

National's Police Spokesperson's batting away questions over why their Labour attack ad uses crime footage from the Government's own term. &nbsp;
The video's claims Labour was soft on crime is juxtaposed with clips of offending committed early during the coalition Government. &nbsp;
Labour says it's dishonest and desperate. &nbsp;
But Mark Mitchell told Mike Hosking they have a great digital team who put a lot of campaign material together. &nbsp;
He says one of the most important issues for people during the 2023 campaign was law and order, which after their term in Government, is now ranked at number seven or eight.&nbsp;
Labour's Ginny Andersen says it shows they're not credible on the subject.&nbsp;
LISTEN ABOVE&nbsp;

Pollies: National's Mark Mitchell and Labour's Ginny Andersen on National's anti-Labour crime ads, Labour's u-turn on the landlord tax cut, last week in the House

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/c2b54cd1-7ada-48f3-b10e-b4cd0167d449/transcript

New Zealand Chardonnay has earned its place at the world's fine wine table in a blind taste test. 

Wines from Pyramid Valley and Smith & Sheth were tasted alongside top French Burgundies, with Smith & Sheth's Les Graviers coming out on top. 

It beat out 23 other bottles, with some costing over $2000. 

Master of Wine Steve Smith told Mike Hosking they wanted to test themselves against the best, and it went well. 

He says they're not really trying to be Burgundy, but in a world where those wines are becoming very expensive and hard to find, he thinks they deserve a place at the same table.  

LISTEN ABOVE 

New Zealand Chardonnay has earned its place at the world's fine wine table in a blind taste test.&nbsp;
Wines from Pyramid Valley and Smith &amp; Sheth were tasted alongside top French Burgundies, with Smith &amp; Sheth's Les Graviers coming out on top.&nbsp;
It beat out 23 other bottles, with some costing over $2000.&nbsp;
Master of Wine Steve Smith told Mike Hosking they wanted to test themselves against the best, and it went well.&nbsp;
He says they're not really trying to be Burgundy, but in a world where those wines are becoming very expensive and hard to find, he thinks they deserve a place at the same table. &nbsp;
LISTEN ABOVE&nbsp;

Steve Smith: Master of Wine on New Zealand Chardonnay outscoring top Burgundies in a global blind taste test

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/293f9212-35db-496d-9809-b4cd01642b7b/transcript

Richard Allen: Fonterra CEO explains cuts to the 2026/27 Milk Price Forecast

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