Westland Milk cuts 2015 milk payout forecast, citing oversupply, high kiwi

Westland Milk cuts 2015 milk payout forecast, citing oversupply, high kiwi
By Jonathan Underhill Nov. 26 (BusinessDesk) - Westland Milk Products, the Hokitika-based dairy cooperative, has cut its forecast milk payout for the second time in four months, saying a global over-supply of dairy products and a relatively high kiwi dollar had crimped cash flows. Westland cut its forecast for the 2014/2015 season by 40 cents to a range of $5 to $5.40 per kilogram of milk solids, from a previous range of $5.40 and $5.80/kgMS. The move keeps Westland on pace with Fonterra Cooperative Group, which lowered its forecast to $5...