Up to 90 per cent of farmers in some regions are blowing out their overdrafts as they struggle to get through a harsh winter, says a rural banker.
Multiple frosts and high rainfall have cut grass growth and damaged pasture.
Farmers are rationing feed and bringing it in until spring growth starts.
In the south, where two snowfalls in a week have left farmers with sodden paddocks and cold temperatures, farmers are concerned that spring conditions are still weeks away.
And in the North Island, Westpac Bank agribusiness manager Shaun Crofskey said that along with reduced milk income, Waikato farmers faced buying in feed and increased animal health costs.
"It's been a tough spring - 80 to 90 per cent of farmers are close to or over their overdraft limits."
Mr Crofskey urged farmers to communicate with their banks.
More than 100 farmers attended the meeting organised by the dairy research and education firm Dexcel in Te Awamutu on Wednesday to discuss the winter and the coming late spring, described by one as the worst for years. More meetings are planned around the region.
Dairy farmers were urged to forget about their milk production for a few weeks and concentrate on getting pastures and herds through until grass growth starts again.
Pokuru farmer Peter Morgan told the farmers that his herd had gone into the winter in peak condition, but despite careful planning he had watched the pastures steadily decline.
"We are not in a dire situation but we are pulling out all the stops to make the best of it. There's no doubt about it, it's very, very stressful."
Mr Morgan urged farmers to get out and talk to others and not to get over-tired. Farmers needed to continually monitor their pastures and plan ahead.
"Being in the crap is something that happens. The really important part is to know how deep it is."
- NZPA
