Getting up early on a foggy frosty Waikato morning for calving is quite a change for the nine Indonesian farmers in New Zealand this winter with Fonterra's Dairy Development programme.

The Dairy Business of the Year recognises leading farms with high achievement in financial performance, people productivity and environmental management.

Animal breeding company LIC says its bulls have again taken the top spots in the all-industry list for top bulls across New Zealand.

With five million calves expected in the next eight weeks, it is a busy season for Christchurch firm Woolover, which makes wool covers for calves, lambs and kids, and for adult animals.

Canadian-owned Warrnambool Cheese and Butter Company, Victoria, saw its net profit slump 88% last year.

Embattled Australian co-op Murray Goulburn says it has lost about 3.6% of its milk supply as a result of farmer suppliers leaving.

It's a chilly wet afternoon in Taranaki and we've just sat down in front of a roaring fire after standing-off 370 dries for the night.

Reports that China has threatened action against key exports such as dairy and kiwifruit if New Zealand investigated a complaint about Chinese steel imports are "completely overblown".

Tractor sales are holding despite the dairy downturn, says NZ Tractor and Machinery Association president Mark Hamilton-Manns.

Cheese prices are falling worldwide and it's all to do with the milk glut.