A complaint by Synlait founder John Penno over the listed milk processor’s recapitalisation plan has been dismissed by regulators.

Despite last week’s drop in global dairy prices, consensus is emerging among economists that the season’s milk price will end up near $9/kgMS.

Beef + Lamb NZ chair Kate Acland believes that after some challenging years, there are some positive signs in the market for red meat farmers.

Embattled milk processor Synlait is the latest to increase its forecast base milk price for the 2024/25 season.

OPINION: There's growing confidence that dairy prices are firming up.

There are some positive signs coming from China regarding dairy, according to Stefan Vogel, general manager of Rabobank Research for Australasia.

PGG Wrightson chief executive Stephen Guerin says the agriculture sector remains in a tough spot.

Synlait is hoping that its proposed recapitalisation plan will help retain its spooked farmer supplier base.

Red meat farmers are in "a slightly better place" than they were a year ago, according to Beef+Lamb NZ chief economist Andrew Burtt.

Troubled Canterbury milk processor Synlait has unveiled a recapitalisation plan - offering new shares worth nearly $218 million to its two largest shareholders.