NZ is taking a thrashing over falling Dairy prices, some farmers who have not yet committed suicide are about to walk off their farms. Dairy Farms are on the watch list of overseas buyers. A world oversupply of milk and less demand out of China has lead to this . So it's not only copper etc on it's knees........there is always some over poor soul worse off boys n girls, chin up....
A weak milk price would follow a low 2014/15 milk price of $4.40, which itself was a sharp drop from the previous season's $8.40 record high.
Fonterra is expected to announce a sharp reduction in its farmgate milk price for 2015/6 today, potentially shaving billions off farmers' total income for the year and putting more downward pressure on an already cooling economy.
Analysts expect the forecast, which currently sits at $5.25 a kg of milksolids, to be cut by at least $1.00 a kg, with some predictions going as low as $3.30/kg.
Agriculture information provider, AgriHQ, estimates that a $1/kg drop in the milk price equates to about $2 billion less income for dairy farmers.
