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The state of emergency in Christchurch has been extended until next Wednesday as aftershocks continue to shake the region.

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The New Zealand Stock Exchange is set to introduce a much delayed dairy futures market in a month’s time.

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Natural Dairy New Zealand has shelved its plans for a $1.5b investment in dairy infrastructure here, terminating its agreement with controversial businesswoman May Wang.

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Sheep and beef farmers are being urged to have their say on the strategy aimed at revitalising the red meat sector.

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MAF estimates as many as 150 Canterbury farms have been severely damaged by Saturday’s earthquake, and a further 250 need repairs.

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Prime Minister John Key has visited some of the areas worst affected by the quake around Kaiapoi and Darfield.

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In other news, Federated Farmers Tararua executive and Fonterra have met to evaluate the damage from flooding earlier this week.

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While early estimates put the total bill for the earthquake at more than $2b, the cost to Canterbury’s grain farmers could have been crippling.

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The recovery from Christchurch’s 7.1 magnitude earthquake on Saturday is continuing, and in rural Canterbury damage reports on infrastructure are still emerging.

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Farmers in the Tararua district of the lower North Island are beginning a clean-up of their own following heavy rain and flooding in the region.

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