Fonterra is set to slash its forecast milk payout price for the season tomorrow.
It comes after dairy prices fell for the 10th consecutive time at the latest GlobalDairyTrade auction.
So how are our dairy farmers coping and what's being done to help them get through these hard times?
DairyNZ chief executive Tim Mackle this morning joined Paul Henry to discuss how many farmers are working to lose money.
"It's a very tough gig right now," says Mr Mackle. "Calving is now underway in many parts of the country… which is long hours and dealing with the elements and so on, so to have news come through around milk prices when you're in a very tight situation financially, it's really tough."
Watch the video for the full interview with Tim Mackle.