Fonterra's board and top management faced a tetchy reception at the annual meeting from shareholders looking at two straight years of low milk prices.

Fonterra has affirmed its guidance for the 2016 milk payout to farmers, although chairman John Wilson said it was dependent on next year's global dairy prices.

International dairy prices are at a "particularly bad" part of the cycle, but are expected to improve substantially in the first half of next year.

Dissidents want to trim the dairy giant's board - is it just a bid to lift performance, or a sign of deeper political tensions?

The August-September price bubble has popped, according to a dairy broker.

An improved financial performance from Fonterra over the first quarter is serving to at least partly counterbalance a decline in global dairy prices.

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

Fonterra boss Theo Spierings wasn't mincing his words this week when asked about rival Synlait Milk's moves to sell cut-price infant formula in China.

Top economist says "racist attitudes" towards Chinese immigration and investment could damage a relationship with China that promises to deliver "big waves".

Fonterra chief executive Theo Spierings says losing Chinese market share to European dairy competitors is a concern for New Zealand.

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

Fonterra's Sri Lanka business has fully recovered after a 2013 food safety scare sparked public protests and forced the temporary closure of its operations there.

Fonterra said it had sold its 9 per cent stake in Australia's Bega Cheese, which it has held since 2013, for A$74 million.

The price for New Zealand's key dairy export, whole milk powder, may drop about 5 per cent at this week's GlobalDairyTrade auction amid lacklustre demand.

China's decision to allow all married couples to have two children will be supportive for the New Zealand dairy industry, but only "at the margin", ANZ Bank said in a commentary.

Fonterra said its milk production hit a seasonal high of 86.9 million litres on October 22 - down 3 per cent from last season's peak.

World dairy prices were down 3.1 per cent in the latest overnight auction.

Fonterra's milk production is close to hitting its seasonal peak.

Fonterra faces higher borrowing costs now its credit rating has been downgraded from "A" to "A minus".

Fonterra chairman John Wilson has hit back at attempts by former directors to trim the size of the board.

A businessman, 60, is alleged to have acted alone in blackmail scare that said infant formula would be poisoned.

Fonterra has named six candidates for its board at next month's election and pressure has emerged to reduce the number of directors.

Dairy prices were up for the fourth time in a row in the latest world dairy auction. Why?

This week's GlobalDairyTrade auction is shaping up to be another strong one.

Fonterra's chief executive has asked for a freeze on his $4m salary.

Spokesman says fans of controversial scheme can turn to NZX for help with milk prices.

Fonterra lost market share in the South Island and will probably lose more this season before an improvement in 2016/17, says CEO Theo Spierings.

Theo Spierings has every right to be among our best-paid chief executives.