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Dairy Farmers Must Tighten Belts

Dairy Farmers Must Tighten Belts

Dairy farmers need to cut back their non-essential spending, according to farm finance specialist Donald Fraser.

_Many farmers are continuing to spend freely despite the much lower Fonterra payout and words of caution from every sector of the industry,_ he says.

_Banks and financiers are voicing their concerns and asking dairy farmers to put their cheque books away until they have caught up on bills and actually have discretionary money to spend._

Fraser believes that continued excessive spending by farmers may see some banks taking a much harder line to protect their interests.

_Farmers need to take heed_, he says.

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