Westland Milk lifts 2016 forecast payout to $4.90-$5.30/kgMS, sees signs of price recovery

Wed, 30 Sep 2015

By Jonathan Underhill Sept. 30 (BusinessDesk) - Westland Milk, which is considering job cuts to contain costs in the face of weaker dairy prices, raised its forecast milk payout to farmers for the current season, saying there are "some signs of increasing demand and price recovery." The Hokitika-based company expects to pay between $4.90 and $5.30 per kilogram of milk solids for the 2015/16 year, up from an earlier forecast of between $4.60 and $5/kgMS. The operating surplus for the previous season was $4.95/kgMS before retentions of 10 c...

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