Westland Milk cuts 2018 milk payout forecast to range of $6.10-$6.40/kgMS citing storm impact

Wed, 07 Mar 2018

By Jonathan Underhill March 7 (BusinessDesk) - Westland Milk Products, New Zealand's third-largest dairy company, has cut its forecast milk payout for the 2017-2018 season citing the disruption on the West Coast caused by ex-Cyclone Fehi. Westland Milk's board met last week and considered its options in the wake of the storm and "the bottom line financial impact due to interruption in production," chair Peter Morrison said in a statement. "The costs to Westland were significant, equivalent to some 8-10 cents per kilo of milk solids on pay...

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