In 2014/15, dairy companies processed 21.3 billion litres of milk containing 1.89 billion kilograms of milksolids.

There's some good news from the dairy sector today, with Fonterra saying its financial performance is improving.

Consumer and food service came in at $408 million, up 216 per cent on the previous year's.

Reserve Bank has asked the country's five biggest rural lenders to conduct a "stress test" of their exposure to dairy farm debt, and had encouraged them to set aside provisions .

Farming is largely a long term intergenerational business. But what could that future look like?

New Zealand has about 720,000ha of land under irrigation, but about half that again could be sustainably irrigated by 2025, an industry body says.

Any chance of an upgrade in Fonterra's farmer payout became more remote today after a big drop in world dairy prices.

Farmers might have to pay for their emissions like everyone else under a revision of the Government's main climate change policy.

Silver Fern Farms shareholders have voted strongly in favour of a 50/50 joint venture with China's Shanghai Maling Aquarius

Silver Fern Farms chairman Rob Hewett said the board remained convinced that a joint venture proposal from Shanghai Maling Aquarius was the best choice.

State owned farmer Landcorp says it supports an alternative recapitalisation plan for the giant meat company.

A group of Silver Fern Farms shareholders who oppose the company's proposed joint venture with Shanghai Maling Aquarius say their offer of a $90 million alternative capital raising proposal remains a live issue just days before the deal goes to the vote.

Waikato dairy co-op Tatua says earnings before tax fell by 11.1pc to $121.2m, reflecting falling commodities prices.

Alliance chairman Murray Taggart says any Silver Fern merger Farms risks making a "big beached whale" of the meat industry.

Beef exports have hit $3 billion - a record high, driven by international shortages, rising local production, and a falling New Zealand dollar, Statistics NZ said.

Maling's proposal to acquire 50% of Silver Fern Farms reaffirms that Chinese investors are interested in New Zealand's rural and food-based assets.

Fonterra is reporting a big turnaround in annual profit and a much improved forecast cash payout for the current year.

Canterbury dairy company Synlait Milk has almost halved its net profit for the July year to $10.6 million.

The blocking of a sale of Lochinver Farm will be welcomed by those with a narrow, not to say xenophobic, view of the national interest.

Does this morning's big jump in world dairy prices mean an increased payout for farmers? There might be a long way to go.

Prices are expected to rise at this week's GlobalDairyTrade auction but doubts remain as to how much further improvement is in store.

Fonterra is cutting back the amount of product it sells on its GlobalDairyTrade auction platform for the next 12 months.

Pre-tax profits for an average sheep and beef farm in New Zealand will increase to $109,900 this season - 9.6 per cent more than last season, but 3.1 per cent below the five-year average, Beef and Lamb New Zealand says in its 2016/6 season outlook.

Deal would increase dominance of New Zealand's biggest meat exporter but erode farmer control of the industry.

Low world dairy prices aren't stopping the NZ industry - production was up 13pc last month from July last year.

Banks appear to have come to the party for NZ farmers needing support during the dairy downturn.

Beef + Lamb New Zealand undertakes a referendum by asking farmers if they want the organisation to continue.

Fonterra's move to cut the amount it sells on its global dairy auction appears to have worked.

The grass-fed meat has fewer calories, less cholesterol or fat than beef, and consumers can't seem to get enough.

State-owned farmer Landcorp said its profit fell by 84 per cent due mostly due to lower milk and lamb prices.