International dairy prices look likely to head lower at this week's GlobalDairyTrade auction, according to futures market pricing.

Fonterra says its milk collection in New Zealand for the 10 months to March 31 reached 1431 million kg of milk solids - 1 per cent higher than for the same period last season.

Units in the Fonterra Shareholders' Fund fell to their lowest point since listing on the NZX in 2012 on the back of growing farmer and investor unrest.

Dairy product prices declined in the latest GlobalDairyTrade auction, led by a slump in prices for butter milk powder and whole milk powder.

Fonterra's half-year result was a disappointment for farmers and investors in the co-operative's listed shareholders' fund.

Almost 2000 people are being viewed as persons of interest in the investigation into the threat to contaminate infant formula with 1080 poison.

Farmers will be disappointed with Fonterra's downwardly revised forecast dividend for the current season, especially given the low farm gate milk price.

New Zealand shares fell, led by Fonterra Shareholders' Fund, after the world's biggest dairy exporter lowered its guidance for dividends

Expectations that a higher dividend from Fonterra would at least partly offset a low milk price went by the wayside yesterday when the co-operative lowered its dividend forecast range.

The dairy industry can weather the prospect of increased production from the EU once quotas are lifted on April 1, says the chief executive of the farmer-funded DairyNZ.

Economists expect Fonterra to stick with its $4.70 per kg farm gate milk price forecast for 2014/15 when it reports its first-half result tomorrow.

One of the first things you learn in journalism is that a hoax is not news, John Roughan writes.

All of the samples of infant formula tested by police after being suspected of possible tampering have tested negative for 1080.

Authorities are no closer to saying if the threat to poison baby formula with 1080 was a hoax, or who wrote the blackmail threats - even with 30 staff on the case.

Just when you thought it was safe to venture into the dairy market, prices drop by 8.8 per cent.

International dairy prices fell by 8.8 per cent at this morning's GlobalDairyTrade auction - the first sale to be held since the 1080 infant formula scare.

Wellington Beltway denizens often refer to MFAT as standing for the Ministry for Fonterra and other Trade.

A partnership with Beingmate Baby & Child could begin boosting Fonterra's branded infant formula sales in China this year.

The decision to refuse to tell parents what they knew or that they were opting to take a lunatic at his word that the poisoning wouldn't begin until the end of March, was despicable, writes Josie Pagani.

A report into New Zealand's meat industry has come out heavily in favour of a single co-operative business model similar to Fonterra's to deal with decades-old issues of overcapacity and too much....

New Zealand shares rose yesterday, paced by Fletcher Building, as investors were drawn to firms that have under-performed the benchmark index.

Market sentiment at tomorrow's GlobalDairyTrade auction will be tested following the revelations last week of a threat to the food safety of New Zealand infant formula, says ANZ.

Dairy giant Fonterra will purchase an 18.8 per cent stake in Chinese infant formula maker Beingmate Baby & Child, slightly less than the 20 per cent shareholding it was aiming for.

This time, with the threat made by some nasty individual to poison baby formula with 1080, it certainly seems like Government and industry efforts have been much better co-ordinated.