Westland Milk hikes forecast payout range by $1, following Fonterra increase

Wed, 28 Aug 2013

Aug. 28 (BusinessDesk) - Westland Milk, the Hokitika-based dairy cooperative, has followed Fonterra Cooperative Group’s lead in hiking its forecast payout to farmers on strong milk flows and elevated international prices. The company expects to pay between $7.60 and $8 per kilogram of milksolids before retentions for the 2013/14 season, up from a forecast range of between $6.60 and $7, and hiked its advance rate 20 cents to $5 per kgms, it said in a statement. The increase comes a day after dominant player Fonterra raised its forecast 30 cen...

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