Larry Williams Drive

Fonterra's CEO says cheaper butter prices could be on the horizon.  The dairy co-op's announced a 13 percent rise in annual operating profit and a record-high final milk payout of $10.16 per kg. Chief Executive Miles Hurrell says it's a great result for farmers.  He says the price of wholesale butter globally has fallen 15 percent in the past two months. "At some point, that'll flow through to the supermarkets - I suspect that they'll set their own prices, but that should flow through and give it an element of relief." LISTEN ABOVESee omnystudio.com/listener for privacy information.