Richard McIntyre: Federated Farmers Dairy Chair on dairy prices continuing to drop at Global Dairy Trade auction

A second straight drop of dairy prices at the Global Dairy Trade auction this morning. The first auction of the year has seen overall prices drop by an average of 2.8 percent from the last auction a fortnight ago where it fell 3.8 percent. Federated Farmers Dairy Chair Richard McIntyre says there are multiple reasons for the drop, including the fact that the world is limited in its ability to pay lots of money for products in general. McIntyre says we've seen higher milk prices for a long time, but they're just starting to soften off a bit as people begin to run out of surplus money to pay for dairy products. LISTEN ABOVE  See omnystudio.com/listener for privacy information.