June provided further evidence that the terms of trade is headed south, albeit from the most favourable levels in 40 years.

New Zealand commodity prices fell for a fourth straight month in June, led by apples, logs, whole and skim milk powder.

Speculation is mounting that Fonterra is on the verge of securing a profit-sharing agreement with a British dairy producer.

Dairy product prices fell to the lowest level since January 2013 in the latest GlobalDairyTrade auction, paced by a drop in butter and anhydrous milk fat.

French food giant Danone was "lulled into a false sense of security" by allegedly misleading information Fonterra gave it months before the botulism scare.

Fonterra's attempt to suspend the legal action it is facing from Danone over last year's botulism scare is due to be heard today in the High Court.

Fonterra Cooperative Group has tapped the president of its China operations, Kelvin Wickham, to head up the newly created global ingredients

Liam Dann asks, "How worried should we be about the slump in global dairy prices? After all these years, NZ is still a giant grass-processing factory and milk remains the lifeblood of our economy."

The ink is barely dry on Fonterra's milk price forecast for 2014/15 and there are already signs that it could be revised downwards.

Signs of normality returned to the dairy sector yesterday when Fonterra forecast a $7 a kg farmgate milk price for 2014-15.

Fonterra has set an opening milk price of $7.00 per kg of milksolids for the 2014/15 season and revised down its forecast for the current season.

Dairy farmers can expect to see a drop in the milk price to around $7 a kg of milk solids .

Giant listed landlord Goodman Property Trust pushed up annual after-tax profit 72.1 per cent, making $134.1 million in the year to March 31.

Infant formula firms that claim to have lost millions as a result of Fonterra's botulism scare were told they were not victims - and denied a chance to have their say.

Dairy giant Fonterra's attempt to suspend the legal action it is facing from French food company Danone over last year's botulism scare is due to be heard in the High Court in June.

Alan Fitzsimmons still gets a buzz out of opening up new markets for Fonterra after more than two decades selling New Zealand dairy products to the world.

The cross-border tourism trade from mainland China is a big part of the retail scene in Hong Kong.

Fonterra's record farmgate milk price forecast may have to come back slightly after international dairy prices fell again at last night's dairy auction, but the decline should not detract from what has been a stellar season for the sector.