Rural Equities, the farming group majority-owned by the Cushing family , posted a 27% decline in annual earnings as milk prices plummeted. The Hastings-based company said operating earnings before interest and tax fell to $4.67 million in the year ended June 30, from $6.43 million a year earlier as Fonterra Cooperative Group slashed its milk price payout to $4.40 per kilogram of milk solids from $8.40/kgMS the previous year.