"Significant animal welfare issues" have been found among the 20,000 cows on the 22 farms owned by the Crafar family, a MAF inquiry says.

Bidding in Fonterra's latest monthly online auction of whole milkpowder early today saw a lift in prices.

NZ's largest family owned dairy business is put into receivership by its banks Westpac, Rabobank and PGG Wrightson Finance.

New Zealand's largest family owned dairy business, Crafar Farms, has been put into receivership, Korda Mentha said in a statement.

NZ's export commodity prices made their biggest monthly rise in 22 years last montth, rising 6.8 per cent from August, the ANZ Commodity Price Index shows.

Federated Farmers Dairy chair Lachlan McKenzie responds to recent controversy over the mistreatment of animals on a NZ dairy farm.

Inspectors have begun urgent checks on the welfare of livestock at farms owned by the Crafar family, amid concerns that publicity over alleged cruelty could harm New Zealand's reputation.

Agriculture Minister David Carter says 'dirty dairy farmer' Allan Crafar could do huge damage to New Zealand's reputation.

Fonterra says it won't hesitate to take action, "including refusal to collect milk" if deliberate animal mistreatment is proven.

Farmer owners of the country's biggest company, Fonterra, have been asked to come up with the cash they forbid directors to go to the sharemarket for.

Fonterra's chairman 'totally disagrees' with any suggestion new 'dry shares' will soften up farmers for the idea of listing on the stock exchange.

Fonterra, New Zealand's biggest exporter, has unveiled its latest restructuring plan, which it promises will allow farmers to keep control of the co-operative.