Hon GRANT ROBERTSON: Thank you very much. The latest global dairy trade auction shows prices are consolidating and actually declining 3.6 percent. The easing in prices comes after strong gains earlier in the year, which is, in turn, due to robust global demand for New Zealand dairy products. Economists are saying that the decline in prices is partly due to strong milk production, which rose 9.3 percent in May, compared to the same month a year ago. For the entire 2020-21 season, production rose 2.7 percent. Commentators expect dairy payouts to farmers to retain near-historic highs in the new season, which is positive for farm incomes, positive for the regions, and positive for the economy overall.