DAIRY PRICE OUTLOOK: GlobalDairyTrade prices registered their third increase in a row overnight signalling further possible upside to Fonterra’s 2012-13 milk price of $5.50 per MS. The details were good with whole milk powder (WMP) prices playing some catch-up to skim milk powder, which have been leading most other dairy markets higher. Overall, WMP powder prices increased by 2.8 percent, with …

The steam came out of the NZX 50 Index, although investors continued to favour Fonterra tradable units and Trade Me, owing to index changes taking place next Monday. The NZX50 Index fell 1.72 points, or 0.4 percent, to 4169.23, on volume of 32.65 million shares, valued at $101.8 million. Within the index, 20 shares rose, and 19 fell, leaving 11 …

The New Zealand dollar was little changed on Wednesday after being clobbered overnight in London trading. The kiwi was at 84.06 US cents at 5pm, from 83.93 US cents at 8am and 83.94 cents at 5.25pm on Tuesday. It fell from 84.19 cents to 83.75 cents overnight on Tuesday before recovering. Imre Speizer, senior market strategist at Westpac, said the …