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ANZ, Westpac cut forecast Fonterra payouts

ANZ cuts its forecast Fonterra 2014/15 milk price payout by 40c, puts call for next OCR hike in March under review; Westpac cuts its forecast payout by 50c

Labour plans fast leadership vote

Labour plans leadership vote through late October, early November; result on Nov 18; full review due after vote; meanwhile, caucus eats itself via Twitter

90 seconds at 9 am: Sharp dip in dairy prices

US employment grows but construction falls; German bonds yield less than 1%; GDT dairy prices fall sharply; UST 10y 2.43%; NZ$1 = US$0.779, TWI = 76.2

Dairy prices face prolonged spell in doldrums

Rabobank sets the bears among the cows, puts the blame on China

Election result should be good for agriculture

Allan Barber surveys the implications of the election result on the rural sector and finds most leaders see present policies delivering "the desired outcomes". Your view?

90 seconds at 9 am: Tax deals 'illegal state aid'

US consumer confidence falls sharply; oil and gold retreat; China factories expand; EU threatens Ireland over tax deals; iron ore price tanks; NZ$1 = US$0.779, TWI = 76.1

The Weekly Dairy Report

Tatua once again leads the pack in profits and predictions

The Sheep Deer and Cattle report

Poor pelt returns ease lamb optimism but big beef price lifts continue

Parker interim Labour leader as brawl erupts

Cunliffe accuses 'beltway babes' of plotting 'backroom deals'; Robertson says Cunliffe 'watching too much West Wing'; Parker has no confidence in Cunliffe; says his position 'untenable

Exporting is just the beginning and definitely not the end

Professor Ang calls for a more nuanced approach to international trade, says exporting only a 1st step. Being involved in the value chain crucial

English welcomes NZ$ fall

Finance Minister welcomes NZ$ fall as reducing headwind for exporters; says RBNZ will be happy to see it continuing to fall; sees not much inflation for consumers; likes Key's 'Goldilocks' forecast

Lower currency will feed through to higher inflation

Roger J Kerr says fuel and freight set to rise in cost soon, other imports to follow; RBNZ taking calculated risk price hikes can be contained within policy limits

90 seconds at 9 am: NZD has 11% fall

US consumer spending rises, house sales fall; post-Gross Pimco bleeds funds; Hong Kong on edge; UST 10yr 2.49%, NZD stabilises overnight; NZ$1 = US$0.777, TWI = 75.8

Key gives green light for RBNZ intervention

Key says 'Goldilocks' level for NZ$ around 65 USc; agrees with RBNZ that NZ$ over-valued; agrees intervention "would be logical"; doesn't know if RBNZ has intervened

Key does deals with Dunne, Seymour

National agrees confidence and supply deals with United Future and ACT; Dunne to stay as Internal Affairs minister; Seymour gets lesser role; Bennett set for new ministry

90 seconds at 9 am: Chinese lose confidence

US new housing surge; Dudley worried; China consumer sentiment falls; RBA sees investors distorting housing markets; NZ$1 = US$0.807, TWI = 78.2

What happened Wednesday

A review of things you need to know before you go home on Wednesday; Fonterra's gamble, good trade balance, strong LGFA demand, strong securitisation demand, swap rates flatten

The Weekly Dairy Report

Milk income predictions fall and upturn may take longer than first predicted

'Take a long, hard look at your farming systems'

DairyNZ concerned for about a quarter of dairy farmers who "may have difficulty meeting their farm working expenses and interest payments" after payout drop

Fonterra cuts payout forecast to NZ$5.30/kg

Fonterra cuts milk payout forecast to NZ$5.30/kg, but lifts dividend range forecast; depends on 30% rebound; Fonterra denies conspiracy to delay result to help National

90 seconds at 9 am: Commodity tenterhooks

US factories hum, China better, Eurozone struggling; US protects tax base; China acts on housing; commodity prices weaken; NZ$1 = US$0.806, TWI = 78.1

What happened Tuesday

A review of things you need to know before you go home on Tuesday; cash incentive pull-back, NZ competitive on tax, $1.2 bln of bond tenders, swap rates sink

The Sheep Deer and Cattle report

Bull beef contracts and saleyard prime steers break price records

Plunging dairy prices take toll on rural confidence

Dairy farmers are worried about their own prospects and are pulling back on investment; sheep and beef farmers are increasing their investment appetite

Labour in chaos as Cunliffe lashes out

Key eyes new reforms to reduce child poverty; rejects 'Koru lounge talk' of using outright majority to 'veer to the right'; Labour in chaos as Cunliffe staggers on and lashes out