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Rabobank's latest Dairy Quarterly report has forecast a weaker New Zealand milk price of $6.25kg/MS for the 2018/19 season.

Despite the drop, Rabobank's Dairy Analyst Emma Higgins took exception to being called a "Grinch" by The Country's Jamie Mackay.

"I don't know if I'd so far as to call me a Grinch, because $6.25 is still actually quite good all things considering."

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Listen below:

Higgins goes on to explain that the bank dropped the price because of a slide in commodity prices in both the whole milk powder and fat level and admits it "is a bit of a haircut," but she hopes $6.25 is still profitable for most dairy farmers across New Zealand.

Also in today's interview: Higgins talks about the latest GDT auction result and the effect of China on New Zealand dairy prices.

Read Rabobank's Dairy Quarterly Q4 2018 below: