The GlobalDairyTrade price index fell 4.2% in yesterday’s auction, the eight fall in a row.
That’s a reflection on increased supply of milk here and overseas.
It’s not a reason for panic.
Fonterra’s opening forecast for this season of $7 is the fourth highest.
The value of our dollar declined after the announcement which might be of comfort for those who think it’s too high.
That’s all of the opposition, most of whom are at best not very enthusiastic about dairying.
A conspiracy theorist might think their antipathy to dairying is, at least unconsciously, linked to their desire to erode the value of everyone’s earnings by devaluing our currency.