Looming clouds of recession over New Zealand grew darker yesterday as the Fonterra dairy company dropped its forecast milk payout for this season by a further 90c - meaning combined farm incomes would be up to $2.4 billion less than last year.
The theory behind the way the large Millers Flat runs were split up during the 1920s is still applicable today.
Cattle will have a greater role in the future of Gray and Robyn Pannett's business.
It is the speed with which unbridled optimism has turned to fear and warnings to curb spending that has surprised dairy farmers.
The controversial practice of high country farmers burning tussock caused little harm to the plant when done in early spring and in damp conditions, research has shown.
The prospect of higher income was a minor factor in David and Robyn Balchin's decision to convert from farming sheep and deer to dairying.
Ad Bekkers doesn't worry about the dairy payout, not because he is in denial, but because it is beyond his control.
Lamb appears to be defying the trend of falling international product prices caused by the credit crunch, with predictions farm-gate prices will be 38% higher this year than last.
Recent dry weather means the 2008-09 summer was finely balanced for many Otago farmers who were waiting and hoping for rain.
Consumers appear to be missing the full benefits of tumbling dairy prices.
There were signs last week wool prices, which have been in free-fall for the last six months, may be about to stabilise.
Silver Fern Farms has put its tallow and rendering business into a new joint venture company it says will improve returns from a traditionally low-value product.
Silver Fern Farms will have a new member on its board later this month.
Fonterra suppliers are calling for an independent review of the company's Internet auction system after prices for whole milk powder at yesterday's globalDairyTrade plunged to less than half their July value.
Craig Norgate has dismissed persistent rumours he is in poor health but the same cannot be said for the share value of two companies in which he is involved.
The dairy industry could be in for more bad news with milk powder prices expected to ease further at Fonterra's first global auction of the new year being held tonight.
Dairy farmers may be looking to cut costs because of a falling milk payout, but South Canterbury dairy farmer Aad van Leeuwen says a new $2 million wintering shed will ultimately achieve just that.
Hopes of a Hilton hotel being developed in Dunedin appear dashed, with primary lender South Canterbury Finance announcing it has taken possession of the Princes St site, which it intends to sell in a mortgagee sale in February.
Tuapeka Gold Print is evidence that a large manufacturing business does not need to be in a major city to succeed. In fact the Lawrence company attributes its success to being sited in a small rural town. Business Reporter Neal Wallace profiles the Otago Daily Times Business of the Year.
Control of Fonterra's troubled $200 million Chinese investment, Sanlu, has been handed to a receiver.
