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Farmers feel dairy drop BY MICHELLE NELSON MICHELLE.N@THEGUARDIAN.CO.NZ

Confidence in the dairy industry has taken a blow in the wake of falling international milk prices, according to the fresh findings of a Federated Farmers survey. The new-season Farm Confidence Survey, released today, indicates confidence in the dairy sector has moved into negative territory. Last week the GlobalDairyTrade price index slumped by 8.9 per cent, marking a 35 per cent decline since February, and hitting the lowest point since 2012. “Commodity prices have fallen over the past few months, especially for dairy products, which are down over 30 per cent since our last survey,” the federation’s president Dr William Rolleston said. The high dollar is also putting pressure on dairy farmers, albeit off a strong base from 2013/14’s near record season, Mr Rolleston said. Mid Canterbury Federated Farmers vice president Willy Leferink cautioned against adopting a negative stance to the dairy industry, which pumps almost $1 billion into the Mid Canterbury economy. He said stockpiles of milk powders in China were driving prices

down, but that situation wouldn’t last indefinitely. “In a year’s time it could be a totally different story – we might be looking down the barrel of a lower payout this year but there’s still a long way to go and prices are very volatile,” he said. “Once the market moves it moves rapidly the other way, that’s what I’m predicting will happen.” Meanwhile, confidence in the meat and fibre farmers’ sector appears to be shoring up, reflecting better international prices for sheepmeat, beef and wool. Mid Canterbury Federated Farmers provincial president Chris Allen said the outlook was favourable for meat and fibre farmers. “We are looking forward to prices steadily improving over last year,” Mr Allen said. “The challenge is the strong dollar which is taking the advantages out of having slightly better overseas schedules.” While there hadn’t been any marked interest in sheep, he said there was still time for the tide to turn. “It only takes a correction in one industry’s prices, no doubt dairy support will be affected if there is a lower payout and some people might look at lambs or beef.”

Gus Watt, 3, had an up close encounter with the Christchurch Symphony Orchestra, helping assistant concert master Oleg Kotorovich. MORE P4 PHOTO JOSEPH JOHNSON 190714-JJ-006

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