Fed Farmers warns dairy farmers face 'austerity' this season

Thu, 02 Oct 2014

By Pattrick Smellie Oct. 2 (BusinessDesk) - New Zealand dairy farmers are facing an "austere" 2014/15 season, says the national farming lobby, Federated Farmers, in response to the further slump in international dairy prices overnight. Prices for dairy commodities in the fortnightly GlobalDairyTrade auction fell 7.5 percent on average, meaning prices have more than halved since the beginning of the year, with global rural lender Rabobank warning yesterday of a "protracted bear market" emerging for dairy products, which will only start to...

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