Prices have decreased 1.4 percent at this morning's first Global Dairy Trade auction of the year, with the whole milk powder price down 2.1 percent.
Fonterra's forecasting a farmgate midpoint of 10-dollars, off the back of a series of positive auctions last year.
Federated Farmers Dairy Chair Richard McIntyre says that would be enough for many farmers to be breaking even, paying down debt, and reinvesting in their farm.
