31 Jul 2015

Westland Milk cuts forecast payout

8:16 am on 31 July 2015

Westland Milk Products is the latest dairy company to slash its forecast milk payout for the 2015-16 season as international dairy prices continue to decline.

The country's second largest co-operative lowered its forecast payout for the current season by $1 to a range of $4.60 to $5 per kilogram of milk solids.

It has taken another 10c off the still to be confirmed milk price for the past season to a range of $4.80 to $4.90.

Last week the country's second largest processor, Open Country Dairy, revised its price down to below $4, and Fonterra will lower its opening forecast from five-dollars-25 when the co-operative's board meets next week.

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