A North Otago sharemilker says despite the state of the dairy prices, there are still reasons to be confident in the dairy industry.
The latest GlobalDairyTrade auction last week saw the price index drop 10.7% from the last sale and whole milk powder price register its biggest fall in 12 months.
While milk powder – which is responsible for about 75% of Fonterra’s farm gate milk price – fell by 13.1% to US$1848 (NZ$2819) a tonne, its lowest level in six years.
By Daniel Birchfield
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