One in four dairy farmers in negative cashflow this season, Wheeler says

One in four dairy farmers in negative cashflow this season, Wheeler says
By Paul McBeth May 13 (BusinessDesk) - Another year of sagging dairy prices would be a concern for New Zealand's economy and especially for the 25 percent of farmers currently carrying  debts above 65 percent of the value of their assets and currently trading in negative equity, says Reserve Bank governor Graeme Wheeler. Expanding at a parliamentary hearing on this morning's release of the central bank's six monthly financial stability report, which imposed new macro-prudential restrictions on lending on Auckland housing, Wheeler said "an...