Katter dons hat for ninth federal election

Veteran Queensland MP Bob Katter has called for price arbitration to save dairy farmers hit by the sudden fall in the cost of milk.

MP Bob Katter says he's unsure if his ninth federal election campaign will be his last. (AAP)

Firebrand crossbench MP Bob Katter says he's unsure if his ninth federal election campaign will be his last.

Mr Katter, who has held the north Queensland seat of Kennedy since 1993, says the sale of Darwin's port was a "turning point" in his decision to run again.

"Two elections ago I was sort of hoping it might be my last election," he told the Nine Network on Saturday, a day before his 71st birthday.

Mr Katter is in Cairns to launch the Katter's Australia Party candidate for the neighbouring seat of Leichhardt, Brad Tassell.

Kennedy has been in Katter hands for all but three of the past 50 years.

Mr Katter's father Bob Sr held the seat from 1966 to 1990.

Labor's Rob Hulls held it for one term before Mr Katter's transition from state to federal politics in 1993.

Mr Katter faced a 16.1 per cent swing against him at the last election, slashing his margin to 2.2 per cent.

A fierce warrior against deregulation and Australia's two biggest supermarkets, Mr Katter said dairy farmers needed price arbitration to save them from the sudden fall in the cost of milk.

"You need arbitration for a fair go and that has been the hallmark of Australian society," he said.

Mr Katter said milk prices had fallen from 60 cents to 30 cents a litre over a decade thanks to deregulation.

He said Coles' decision to establish a fund to help farmers was an insult and an admission they had driven down milk prices.