"Given the current outlook for dairy commodities, the first meeting this year between Federated Farmers and members of Fonterra's Board and senior management has taken on even greater importance," says Lachlan McKenzie, Federated Farmers Dairy chairman. "With a majority of New Zealand's dairy farmers adjusting to lower payouts, lower share values and squeezed margins, what Fonterra does is vital for our collective future.' Federated Farmers Dairy members have expressed concern on a number of issues. There is much to discuss, including Fonterra's strategy, the GlobalDairyTrade auction platform, the level of stock inventory and ascertaining the latest on Fonterra's capital structure . "The dialogue Fonterra and the Federation has is very important. As well as ongoing informal dialogue, it is important to engage formally with Fonterra. The Federation's priority is the interests of our members. While we made some progress at the meeting, we still have much work to do and will be meeting again over the coming weeks," Mr McKenzie concluded.
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