Global dairy prices have tumbled in the latest Global Dairy Trade (GDT) event.

Fonterra’s first fixed milk price event attracted 215 farms, offering over 11 million kgMS to the co-op for $6.75/kgMS.

Fonterra’s farm gate milk price faces another revision following the Global dairy Trade (GDT) auction overnight.

The Global Dairy Trade lift overnight of 2.6% is broadly in line with expectations, says ASB rural economist Nathan Guy.

Fonterra has confirmed it will pay part of its forecast final dividend earlier, to support farmers during a time of extremely tight on-farm cash flows.

With the payout down and dry conditions looming, what's the last thing dairy farmers need now? An ageing political mouth with an overactive media secretary using the industry to try to make political capital.

Farmgate milk price forecasts by at least two banks, ASB and BNZ, have now been hiked upwards to $5/kgMS for the 2015-16 season.

Fonterra has lifted its 2015-16 forecast payout by 75 cents to $5.00 to $5.10/kgMS.

The farmgate milk price increases to $4.60 and the dividend payment remains at 40 to 50c/share.

New Zealand's second largest dairy company is reporting increased activity from the market following the August 19 GlobalDairyTrade (GDT) auction.

Who would work for three months without pay? And who would keep getting up at 5am every day to milk cows despite knowing there will be no milk cheque arriving this month?