Dairy farmers remain mindful of the chance of more tough times ahead. 

Fonterra's confirmed a final farmgate milk price of $10.16 for the past season, with earnings of 71 cents per share. 

But its midpoint forecast for this season remains at $10. 

Federated Farmers Dairy Board Chair Karl Dean told Francesca Rudkin farmers will be paying off debt and investing back into their farms after battling several years of high on-farm costs. 

He says they all understand costs may rise again, and incomes may drop. 

LISTEN ABOVE