New Zealand First Cabinet Minister Shane Jones has again put the boot into the country's largest company, calling out Fonterra's top brass after its lacklustre financial results this morning.

Jones, who is the Regional Economic Development Minister, said New Zealand is at "peak cow" and the dairy co-op needs to understand that fact.

Although he admitted that some people might find it unusual for a cabinet minister to comment so publicly on Fonterra, Jones said his popularity in rural New Zealand increases every time he speaks out against the dairy giant.

His broadside attack comes after Fonterra revealed it was

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