Dairy farm prices continued to ease in the three months to March, the Real Estate Institute of New Zealand (REINZ) said.
The institute said median sales price per hectare for dairy farms fell to $33,897 compared with $36,687 in the three months to February and $37,761 for the three months to March 2015. The median dairy farm size for the three months to March was 121 hectares.
On a price per kg of milksolids basis, the median sale price was $34.79 per kg, down 8.4 per cent in the three months to February, and down 2.9 per cent compared with the same March period a year earlier.
The institute said its Dairy Farm Price index rose by 4.3 per cent in the three months to March, but fell by 15.9 per cent compared with the same year-ago period.
Across all farms, REINZ said the median price per hectare in the three months to March was $27,202 compared with $27,957 in three months March 2015 - down 2.7 per cent.
REINZ's all farm price index fell by 1.7 per cent compared in the three months against the same year-ago period. The index adjusts for differences in farm size, location and farming type.