Latest from Dairy

Job cuts cap bad day for economy

Dairy giant Fonterra cut 523 jobs yesterday - in a bid to cut its payroll bill by up to $60 million a year - on a day of bad news for the economy.

Fonterra wields the axe

Hundreds of Fonterra employees and thousands of its farmer-shareholders have been dealt the twin blows of impending job losses and the prospect of a much lower farmgate milk price.

Dollar hits 6-year low on dairy jitters

The New Zealand dollar dropped to a six-year low after a surprisingly sharp slump in dairy prices fuelled concerns about the broader economy.

Q&A: Why is Fonterra cutting jobs?

Fonterra axes 523 jobs

Chief Theo Spierings admits news unsettling for staff as co-op tries to reduce its payroll bill by up to $60m a year.

Cuts won't solve Fonterra's problems

Liam Dann says axing 523 jobs may make financial sense to Fonterra's chiefs but the dairy slump is bigger than that.

Fonterra says payout on the table

Fonterra's board will consider its current farm gate milk price forecast for 2015/6 at its next meeting on August 7, a spokesman for the co-operative said.

Kiwi dollar falls as dairy prices plunge

Dairy prices have plunged in the latest world dairy auction, taking the Kiwi dollar down with it.

Fonterra's Chinese partner expects loss

Fonterra says it is disappointed about a poor first-half result expected by its Chinese infant formula investment, Beingmate Baby & Child.

Milk powder futures suggest slide will extend

"It's pretty negative, there's a lot of selling in the futures and there's not much buying - this market looks completely stuffed."

'I got to see him one last time'

The family of Fonterra’s first chief executive Craig Norgate may have to wait more than two weeks before they can bring the 50-year-old’s body home.

Norgate - visionary deal-maker

Fran O'Sullivan reflects on Craig Norgate - a man with much more to him than mere business.

Confidence slumps to a three-year low

Business confidence has fallen to a three-year low, led by regions like Waikato, Canterbury and Southland particularly exposed to the dairy sector.

'Hard to be bullish' on dairy prices

NZX dairy futures pricing continues to point to more weakness in the whole milk powder market, following on from the sharp decline at last week's GlobalDairyTrade auction.

English denies 'recipe' for recession

Finance Minister Bill English has denied falling dairy prices pose a risk to New Zealand, saying the dairy industry is a smaller part of the economy than most people think.

Holy cow! Milk supplies overwhelm US dairies

There's so much milk flowing out of US cows these days that some is ending up in dirt pits because dairies can't find buyers.

Editorial: It's time to cry out as milk price fails to fall

The small reduction in cost at supermarkets does not match the halving of global milk prices since 2011.

NZ at risk of recession - economist

So much for the rock star economy.