The forecast payout, which Fonterra revises throughout the season, is made up of NZ$5.50 a kilo of milk solids and an added dividend of between 45-55 NZ cents from Fonterra's commercial consumer products operations.
Federated Farmers Dairy Chairperson Willy Leferink added that farmers are in a better position to weather the lower payout than in 2008/09, when a drought in the country led to a drop in global prices.
"Farm finances are now much better prepared and a downwards trend in global milk prices was well telegraphed," he said in a statement.
"While 2008/09 was a bolt out of the blue, we always knew 2012/13 was shaping up as a tough season."
The Global Dairy Trade-Trade Weighted Index, a barometer for international prices in Fonterra's fortnightly auctions, has fallen around 40 percent since peaking roughly a year ago.
Worries about the euro zone' debt crisis have also weighed on commodities, pushing the Thomson Reuters-Jefferies CRB index to a seven-month low this month.
Fonterra's shareholders are due to vote on the new share trading scheme in June. The scheme is designed to allow farmers to trade their shares amongst themselves, while also setting up a fund to tap outside investment.
Under the proposal, which was overwhelmingly approved in principle by shareholders in 2010, the dividend payouts of a portion of shares will be converted into "financial units" and traded on New Zealand's stock exchange. ($1 = 1.31 New Zealand dollars) (Editing by Edwina Gibbs)