One for the kiwi $ traders.

NZ dairy exporter Fonterra has lowered the top end of its forecast farmgate milk price

  • the dairy co-operative expects to pay farmer shareholders $8.50-to-$9.50 per kilogram of milk solids
  • down from its prior range of $8.50-to-$10.00/kgMS

At the margin a negative for the NZD. Also, Fonterra citing a little less demand, which has wider implications for other markets.

NZD/USD update:

nzdusd 08 December 2022