A farmer was forced to get rid of a type of cow that was bred by Hitler's scientists because the ultra-aggressive breed tried to kill staff.

Dairy farmers and the Treasury will be looking to 2015 and beyond with some trepidation after a 52 per cent decline in wholemilk powder prices over the past 12 months.

Dairy prices mostly improved at this morning’s GlobalDairyTrade auction, the GDT price index gaining 2.4 per cent.

The medium to long term outlook for NZ dairy farmers remains sound, despite yesterday's payout cut, says rural lender Rabobank.

Fonterra said it had launched a separate milk sourcing subsidiary - mymilk - to grow its market share in the South Island.

Fonterra plans to cut costs and defer some capital expenditure so that an improved dividend can at least partially offset a likely $6b decline in income for the sector.

The industry group DairyNZ estimates that one quarter of dairy farmers will have difficulty paying their bills if Fonterra's reduced farmgate milk price comes to pass.

Fonterra has this morning cut its forecast farmgate milk price payout to its farmers, with its chairman admitted it'll put pressure on farm budgets.

ANZ has admitted misleading conduct over interest rate swaps and up to 178 farmers will now have to decide whether to accept their share of $18.5 million from the bank.

Farmers have been increasing their spending on equipment as cash flows were boosted by Fonterra's record payout.

Fonterra says it had started a consultation process to gauge interest in a proposed equity partnership trust for its farmers.

The grass-only dairy farm model has become a thing of the past for New Zealand as farmers increasingly turn to supplementary feeds to increase their production.

New Zealand tractor sales are expected to match record highs this year, thanks to high milk prices and good growing conditions.

Fonterra now looks certain to drop its farmgate payout to its farmers, after prices fell in the latest overnight dairy auction.

The Fonterra Shareholders' Fund should be able to raise its 2015 dividend forecast given it expects to pay farmers less for their milk.

Private dairy ingredient manufacturer Open Country Dairy has told its suppliers to expect a reduced payout in a range of $4.70 to $4.90 per kg of milksolids for 2014/5.

International dairy prices showed signs of stabilising at this morning’s GlobalDairyTrade auction.

Farmers from southern provinces are moving to Northland to take advantage of the comparatively cheap dairy farms on offer there, according to real estate agency Bayleys.

New Zealand's "rock star" economic growth of the past couple of years has been attributed to two things: high dairy prices and the Christchurch rebuild.

Farmers are preparing for an austere 2014/15 season after a major drop in prices at last night's GlobalDairyTrade auction, says Federated Farmers boss.

Research funding from the dairying and soft drink industries could be declined on ethical grounds under proposals being worked through by the University of Canterbury.

Dairy farmers face a year of serious belt-tightening if Fonterra's latest milkprice forecast of $5.30 per kg of milksolids comes to pass, agricultural commentators said.

Fonterra has just announced a cut to its forecast farmer payout - from $5.30 a kg of milksolids - down from $6.00.

New Zealand rural confidence levels have fallen to a two-year low thanks to plunging dairy prices, according to Rabobank's latest quarterly rural confidence survey.

New Zealanders are evenly divided about whether farmers are moving quickly enough to reduce their impact on the environment, a Herald DigiPoll survey shows.

Federated Farmers is questioning the need for a National Party proposal for a compulsory ban on dairy cattle from all waterways.

Allied Farmers, which is rebuilding from a disastrous takeover of the Hanover and United Finance loan books has returned to profit.

A majority of voters approve of farm sales to foreigners only when it brings a significant advantage over a New Zealand buyer such as jobs, according to the latest Herald-DigiPoll survey.

This year hasn't been kind to the US agricultural sector, just ask John Deere, the world's largest manufacturer of farming machinery.