Westland Dairy cuts forecast 2012 milk prices

Westland Dairy cuts forecast 2012 milk prices
By Hannah Lynch July 6 (BusinessDesk) - Westland Dairy Products, the New Zealand dairy cooperative competing with Fonterra, has cut its forecast 2012 milk price, mirroring a global side in dairy prices and a volatile New Zealand dollar. The West-Coast based company lowered its milk solid payout by 20 cents per kilogram to a range of $6.00 to $6.20. "Fluctuations in payouts are normal and certainly not unique to Westland or this season," chairman Matt O'Regan said in a statement. “The volatility of the New Zealand dollar remains high and th...