A recovery in the dairy sector could be two or three years away while low oil prices continue to weigh on the market, says a US industry leader.

Fonterra's total borrowings now more than $7.5 billion, writes Brian Gaynor.

As farmers face the prospect of even lower prices, they are being asked whether the dairy giant's governance needs revision, writes Jamie Gray.

Westpac is forecasting a Fonterra farmgate milk price of $4 this season and $4.60 in 2016/17.

Fonterra has upped production of lactoferrin - a special, high-value protein known in the industry as "pink gold" - at its Hautapu plant, near Cambridge.

Dairy prices are expected to weaken again by up to 10 per cent at this week's global dairy auction as market continues to suffer from over-production.

Fonterra's latest farmgate milk price forecast is already under downward pressure after dairy prices fell for the third time in a row at this morning's GlobalDairyTrade auction.

Dairy farmers are bracing themselves for still more falls in product prices at tomorrow's Global Dairy Trade auction.

Fonterra posed the question of whether a board stacked with farmers has the right skills to drive a global business.

Dairy Farms NZ - likely to list on the NZ stock exchange, has been given permission to buy up South Island farms.

Weakening world dairy prices have pushed Fonterra this morning to announce a cut in its payout to farmers.

Leading international credit rating agency has downgraded its outlook for New Zealand's economy.

Fonterra chief executive Theo Spierings said more pain lies ahead for farmers as dairy prices continue to weaken and as oil prices plummet.

Futures pricing is pointing to dairy prices flattening at tomorrow's GlobalDairyTrade auction as the sector continues to grapple with the same issues that held sway last year - oversupply and low....

New Zealand's second largest dairy processor has reduced its milk payout by 30 cents to an average price of between $4.00-$4.30 per kilogramme.

Fonterra's export volumes hit a record high of 300,000 tonnes in December - exceeding the previous record.

Dairy prices finished the year on a slightly firmer note at this morning's GlobalDairyTrade auction, the GDT price index gaining by just 1.9 per cent.

A series of recommendations have been made to overhaul the dairy sector after a system investigation sparked by the botulism scare.

The Reserve Bank has warned defaults on dairy loans will be likely as cash-flow shortage estimated at $1/kgMS.

Fonterra has maintained milk price at $4.60 per kilo, but scrapped a farmer support scheme.

Pressure is mounting on Fonterra to cut its farmgate milk price forecast at this week's board meeting, but it's looking like a close call.

Given the recent scrutiny applied to Fonterra's board size, Staples Rodway Director Tracy Hickman considers the optimal board - in theory and in practice.

Animal welfare group SAFE placed a graphic advertisement to shame NZ's dairy industry in the Guardian newspaper.

'Is our dairy industry built on cruelty?" That was the question posed by TVNZ's Sunday programme which broadcast evidence covertly filmed by FarmWatch and Safe activists.

Fonterra has signed a deal with an Australian infant formula plant.