Dairy farmers have gathered in Morrinsville in Waikato today for DairyNZ's annual meeting.
The industry organisation represents all New Zealand dairy farmers and is funded through a levy on milksolids, set at 3.6 cents per kilogram.
During the past year, DairyNZ has spent most of its funding on bio-security and product integrity, followed by farm profit and research and development.
Its annual report said the past year's surplus of $424,000 was higher than forecast at the start of the year - helped by a 3.6 percent increase in milksolids production from the previous year - but that it was in line with its non-profit objectives.
In light of low dairy prices, it has launched a Tactics for Tight Times campaign, where it has pulled together research, data and lessons from similar seasons to help farmers through this one.
For the coming season, the top three priorities have reversed, with the organisation set to spend $18 million on research and development, and $17 million on both farm profit and biosecurity and product integrity.
DairyNZ chairman John Luxton is standing down after more than eight years with the organisation.
