Neal Wallace

Fonterra views as positive the almost negligible movement in whole milk prices on its globalDairyTrade internet auction on Tuesday night.

Fonterra views as positive the almost negligible movement in whole milk prices on its globalDairyTrade internet auction on Tuesday night.

Lamb prices look set to take a hammering in our most important market after the New Zealand dollar reached a 25-year high against a weakening British pound late yesterday.

A Maori hapu's bid to buy 28 Southland farms using Dubai funding appears to have collapsed.

PGG Wrightson Finance has reported a $3.3 million interim profit, back slightly on a year earlier, but after increasing allowances for impaired assets.

South Canterbury Finance last night reported an unaudited interim net loss of $154.9 million, accentuated by allowances for an extra $180.23 million of impaired costs and bad debts.

A shareholders risked being financially locked into the co-operative if they agreed to allow share trading among themselves, the chairman of Open Country Dairy has warned.

The finances of investment company Pyne Gould Corporation are back in black with a $10.1 million interim after-tax net profit which was hit by allowing for a one-off $3.3 million provision for an irregular loan.

PGG Wrightson Finance had a strong year but its associated real estate business has experienced a continued troughRURAL servicing company PGG Wrightson has returned to profitability, reporting a $4.1 million profit after a $28 million turn around in the six months to December 31.

The land agent negotiating the purchase of Southland farms using Dubai funding remains adamant the deal does not require Overseas Investment Office approval.

Ray McCrostie is relaxed and full of praise over his treatment since agreeing to sell his Mokotua farm to a Maori Trust with financial backing from Dubai interests.

A Maori trust with financial backing from Dubai interests has scaled back the number of Southland farms it intends initially buying from 28 to 10, but the deal could face further delays, as it appears Overseas Investment Office approval is required.

Credit rating agency Standard and Poor's has given BB gradings with stable outlooks to PGG Wrightson Finance, Credit Union South and Fisher and Paykel Appliances Holdings.

A shortage of sheep and a surplus of grass throughout much of the South Island has underpinned strong store stock prices.