The falling value of the New Zealand dollar is offsetting some of the lower GlobalDairyAuction prices but not all of the gain will be captured in this season's payout. Dairy prices were weaker than expected in the latest auction, falling 3.4%. Mr Penny said auction prices had now fallen for four consecutive auctions. The New Zealand dollar was providing some offset to falling auction prices, he said. However, not all of the gain would be captured in this season's milk price calculation, Mr Penny said.

Source: Otago Daily Times November 22, 2017 16:06 UTC