Westland Milk follows Fonterra in slashing payout forecast

Tue, 29 Jul 2014

By Jonathan Underhill July 30 (BusinessDesk) - Westland Milk Products, the Hokitika-based dairy cooperative, has followed Fonterra Cooperative Group in cutting its forecast payout for the 2015 season, citing weaker global dairy prices and high New Zealand dollar. Westland, the nation's second-largest dairy cooperative after Fonterra, is forecasting a payout of $6 to $6.40 a kilogram of milk solids before retentions, it said in a statement. That's down from $7.50 to $7.70 per kgMS it expects to pay for the 2014 season. "The market has c...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Property FREE
Money Answers: how much mortgage can I actually afford?
Frances Cook | Sat, 25 Jun 2022

This week, readers ask how they should decide as a family what they can afford in terms of buying a house – and just because you can, should you?

Health
The eyes have it
The Economist | Sat, 25 Jun 2022

Short-sightedness used to be rare. Now it's growing across the globe. Tim Cross, The Economist's technology editor, investigates its rapid rise.

On the Money
On the Money: Don Braid, Fletcher, Steve Newman and more
Victoria Young | Sat, 25 Jun 2022

OTM this week: A bit of matchy-matchy for Don Braid, the reopening of Parliament's lawns, Eroad, Fletcher and more. 

Sponsored
Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.

Sponsored
High water marks: Watercare raises the tide on sustainability

The No.1 barrier to decarbonisation for NZ organisations is accurate measurement, says Microsoft’s Accelerating the Journey to Net Zero report.