RTTNews - New Zealand dairy farmers are budgeting a 3% increase in production during 2009/10, a report from the Ministry of Agriculture and Fisheries showed Tuesday.

Though farm working expenses are budgeted to decrease 11% to NZ$3.34 per kilogram milksolids, average dairy farm would record a cash loss of NZ$15,500 in the current year.

Dairy farm production grew around 9.8% in 2008/2009 but net cash income slipped 27% to NZ$750,000.

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