Fishers and Department of Conservation (DoC) staff alike are worried over what they are calling the worst whitebait season in living memory.
The Waikato River is the biggest whitebait fishery in the country, but low catches have lead to fears that the wet autumn washed away eggs during spawning.
DoC ranger Chris Annandale says it is also possible overfishing and pollution is taking a toll.
"Every time we've been down to the river recently to do regular compliance patrols around the areas, everyone's got the same story here.
"The fishing has been as poor as they can remember it.''