Nick Smith says he makes no apologies for using taxpayers' money to send two Iwi Leadership Group members to the upcoming climate talks in Copenhagen.

John Key warns farmers they reject a response to climate change at their peril - endangering their reputations, future incomes and the economy.

John Key urged farmers to be less agitated about the ETS and tackling climate change in an address to Federated Farmers today.

Fonterra's shareholders have approved the first stage of the dairy giant's capital restructuring plan.

ANZ National Bank economist Kevin Wilson says the new Fonterra payout could return the sector to profitability and reduce stress levels.

Fonterra chief executive Andrew Ferrier said improving market conditions had been reflected in trading on Fonterra's globalDairyTrade online platform.

Fonterra's increased milkfat payout will put an extra $110,000 into the bank account of the average dairy farmer.

The higher Fonterra payout will be a major boost for regional economies.

Dairy juggernaut Fonterra has announced a payout increase to dairy farmers for the current season.

The price of milk powder climbing to a 13-month high in Fonterra's latest online auction.

Rising dairy prices continue to underpin gains in the ANZ Commodity Price Index, which has recorded its seventh straight monthly gain last month.

Fonterra is being asked to adopt a formal profits distribution policy so farmers being asked to invest cash know what payoff they are likely to get.

A Fonterra executive paid $3.7m when he left the dairy giant this year, was said to have been the fall guy for the disastrous investment in China's San Lu milk company.

A departing Fonterra executive has pipped CEO Andrew Ferrier's take-home salary, receiving total payments of up to $3.72 million.

Fonterra's highest-paid employee - likely to be chief executive Andrew Ferrier - appears to have taken a pay cut of up to $360,000.