Record-high stock levels are set to keep worldwide food prices low during 2017 even as inflation starts to rise in many developed economies, says a major report from Rabobank.

Fonterra today increased its 2016/17 forecast farmgate milk price by 75 cents to $6/kgMS.

Sales of New Zealand chilled venison are growing, boosting returns to New Zealand deer farmers, even though overall venison production is down.

International dairy commodity prices have recovered markedly in recent months, as global supply and demand slowly balance, according to Dairy Australia’s latest Situation and Outlook report.

The Fieldays generated $430 million in sales revenue for New Zealand firms, up 9% from 2015, a new report has found.

International dairy commodity prices have staged a remarkable recovery in recent months, as global supply and demand slowly return to a more balanced outlook.

Strapped Australian milk processor Murray Goulburn (MG) says it has lost 300 million litres of milk this season -- about 8% of supply -- through suppliers opting out of the co-op.

Fonterra has increased its after tax profit by 65% to $834 million for the year ended July 31, 2016.

Australia's milk production is set to fall significantly in the 2016-17 season due to the damage caused to farm cashflows and industry confidence after the late cuts to milk prices in April this year.

Farmer-owned cooperative, Livestock Improvement Corporation, made a loss of $4 million in the year to May 31 2016, down from a profit of $13.7 million the previous year.