Across the Tasman, dairy co-operatives are a dying breed.
With the passing of what was Australia's biggest co-op, Murray Goulburn, to Canada's Saputo, they now account for less than 5 per cent of the milk pool there.
Closer to home, the sale of troubled Westland Milk to China's Yili leaves just two co-operatives — Fonterra and Waikato's Tatua.
Fonterra has had its well-publicised problems, so does that mean the dairy co-operative model is on its way out?
Rabobank senior dairy analyst Michael Harvey doesn't think so.
Melbourne-based Harvey says co-ops still play an important role in the world's dairy sector.