date:Aug 06, 2015
was US$1,590 a metric ton, down 10% from the prior auction.
The dairy industry is the backbone of New Zealands economy, accounting for more than a quarter of exports. But global dairy prices are down 64% since early 2014, and many of the countrys farmers are operating below the break-even level.
Farmers now face two consecutive seasons of extremely low milk prices. Very few farmers will be able to turn a profit at such a low milk price, said AgriHQ dairy analyst Susan Kilsby.
The weak dairy