Fonterra's moved quickly to reject Australian media reports that Spierings is preparing to step down.

The milk price of $4.25 per kg remains well below DairyNZ's $5.25 per kg estimate of breakeven.

Australian dairy farmers want the government's help in gaining security around milk prices.

It's not only NZ dairy farmers unhappy about farm gate prices.

Dairy prices ended the 2015/6 season on a firm note with the GlobalDairyTrade price index rising by 2.6 per cent at this morning's auction.

Dairy prices should start improving 'in the medium term'.

Fonterra's farmer shareholders will vote next month on whether to accept governance changes to trim the board.

Fonterra says part of forecast final dividend will be moved up to ease low-price pain.

Housing debt got all the attention yesterday, but dairy debt remains near the top list of Reserve Bank of the threats to the economy.

Fonterra has continued to lose farmers to its competitors, based on latest production data.

Fonterra's first draft of suggested changes to its governance structure recommends the board's size be cut from 13 to 11.

Fonterra's first draft of its recommendations on the size and makeup of its board will be made public tomorrow.

NZX's planned new milk price futures contract can help bring stability to a dairy sector being hit by low returns, says visiting specialist Brian Rice.

"Pleasant surprise" at global dairy auction.

Fonterra could let farmer shareholders sell shares based on annual milk production to reduce debt, analysts say.

The NZX is expected to announce plans for a new milk futures contract tomorrow, which will be aimed at picking up where Fonterra's controversial guaranteed milk price scheme left off.

Fonterra stole the show during last month's sentencing of 1080 blackmailer Jeremy Kerr.

'We are grinning and bearing it." That's how Taranaki sharemilker Charlie McCaig describes how he and his wife Jody are faring with a milk price.

COMMENT: It is the nature of the Fonterra's unique corporate structure that bad times for commodities mean good times for the brands business.

Exporters paid a heavy price for the threat to contaminate infant formula with 1080.

Powerful victim impact statement read in court ahead of the sentencing of 1080 blackmailer Jeremy Kerr.

Theo Spierings said a "temporary imbalance" exists between Fonterra's strong results and farmers' tough times.

COMMENT: Criticism from farmers about the cost of supply rules ignores built-in protection, writes Peter Fraser.

Finally some good news for dairy farmers - Fonterra will be doubling its dividend payout after profits jumped 123 per cent.

COMMENT: Fonterra has made the right call by accelerating dividend payments instead of extending its dairy farmer shareholders loan package, writes Fran O'Sullivan.

COMMENT: The crisis in the dairy industry is of course a savage blow to many individual dairy farmers.

Fonterra may dust off last year's support package or boost the percentage of earnings paid as dividends to help farmers hit by the dairy downturn.

Fonterra will unveil a strong half-year financial result on Wednesday, but this will not mute the criticism that has emerged.

Cash-strapped dairy farmers can at least look forward to a strong first-half performance from Fonterra when it reports its result this week.