The government is being told that putting a moratorium on conversions to dairy could save farmers' lives.

The dairy price is now at a six-year low, after diary prices dropped following a global trade auction on Wednesday night.

This is the eighth consecutive time international dairy prices have fallen this week and the development could further strain finances for heavily indebted dairy farmers.

According to Green Party co-leader James Shaw, more than 10 percent of farmers who have too much debt to get through.

"They have invested in these large conversions, which is very, very costly, and so when the dairy price tanks the way it has it leaves them hugely over-exposed."

The increasing financial pressures could be having serious consequences with Shaw Labour MP Damien O'Connor reporting that some farmers have already committed suicide as a result of the falling prices.

"I think you'll find that there is a connection between the high level of rural suicides and the increasing level of financial debt across the rural sector," O'Connor said.

However the Minister for Primary Industries Nathan Guy appears confident farmers can weather the storm

"Farmers are in for the long run. They realise they will get through this price fluctuation, and, as I said, the medium to long-term outlook for dairy is extremely strong."

The ASB have revised their dairy payout forecast down to $5 per kg of milk.

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