Westland Milk lowers forecast payout on falling dairy prices

Tue, 30 Oct 2018

By Rebecca Howard Oct. 31 (BusinessDesk) - Westland Milk Products lowered its forecast payout for the current season by as much as 6.6 percent due to the decline in global dairy prices and butter in particular. New Zealand's third-largest dairy company now expects to pay between $6.10 and $6.50 per kilogram of milk solids versus a prior forecast of $6.50 to $6.90. Based on current indications, it expects to come in at the middle of the range, chairman Pete Morrison said in a statement. In the prior season it paid $6.12, less a 5 cent ret...

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