Global dairy prices are down, but there could be a silver lining for New Zealand

Overall, prices dropped 3.6 percent, much of that due to an 8.5 percent drop
in butter numbers.

Whole milk powder dropped 2 percent, and anhydrous milk fat fell almost seven
percent.

Rabobank dairy analyst Emma Higgins says European production is having a
tough time with hot, dry conditions, which are also pushing feed costs up.

She says data shows northern hemisphere production is slowing, which could
provide commodity price support if trends continue.