“There’s no way to dress this up as anything but a kick in the guts,” Andrew Hoggard, Federated Farmers dairy chairman said.
Despite the good volume sold, at more 55,000 tonnes, and 167 winning bidders, prices are continuing to decline with dislocated European milk affecting global dairy prices.
“With a small domestic market we are trade-exposed whereas our competitors can fall back upon large domestic markets,” Hoggard said.
Federated Farmers’ advice to farmers was to watch costs but to keep your bank, farm consultant, accountant and family fully in the loop. “Take a no surprises approach to get through this,” he said.
