Wednesday, 26 September 2018 15:48

Butter price dip forces Westland to revise forecast payout

Written by 
Westland Milk has reduced its payout prediction for the 2018-19 season. Westland Milk has reduced its payout prediction for the 2018-19 season.

Independent dairy processor Westland Milk has reduced its payout prediction for the 2018-19 season.

A drop in butter prices has forced the co-op to revise its predicted 2018-19 payout range to $6.50/kgMS to $6.90/kgMS.  

Four months ago, the co-op was predicting a payout range of $6.75 to $7.20.

Westland chairman Pete Morrison says the revised forecast payout “is in line with other milk processors”.

Chief executive Toni Brendish says Westland was now implementing its new five-year strategy, the key to which is milk segregation, and the continual focus on improving internal systems and process, which were now starting to deliver results. 

 “During the 2017-18 season we proved our ability to identify, separately collect and process milk with key characteristics that carry significantly more value in the market place and return increased premiums.    

“We’re working with Southern Pastures to produce grass-fed milk to a set of very high standards that include strict environmental, animal welfare, feed management, soil and water management and other criteria that will set this milk apart. 

 “Our comparatively smaller processing plant gives us the flexibility to produce nutritional products for very specific niche markets with increasing global demand. Other types of speciality milk will also soon be available,” she says.

More like this

Top dairy CEO quits

Arguably one of the country's top dairy company's chief executives, Richard Wyeth has abruptly quit Chinese owned Westland Milk Products (WMP)

Wrong, again!

OPINION: This old mutt well remembers the wailing, whining and gnashing of teeth by former West Coast MP and Labour Agriculture Minister Damian O’Connor when Chineseowned Yili took over the troubled dairy company Westland Milk a few years back.

Milk price certainty

Westland Milk has reaffirmed its commitment to pay farmer suppliers 10c above Fonterra farm gate milk price for the following two seasons.

Featured

IFSO urges flood-affected residents to document damage for insurance

Following heavy rain which caused flooding in parts of Nelson-Tasman and sewerage overflows in Marlborough, the Insurance & Financial Services Ombudsman Scheme (IFSO Scheme) is urging homeowners and tenants to be cautious when cleaning up and to take the right steps to support claims.

National

Machinery & Products

Farming smarter with technology

The National Fieldays is an annual fixture in the farming calendar: it draws in thousands of farmers, contractors, and industry…

» Latest Print Issues Online

Milking It

110,000 visitors!

OPINION: It's official, Fieldays 2025 clocked 110,000 visitors over the four days.

Sticky situation

OPINION: The Federated Farmers rural advocacy hub at Fieldays has been touted as a great success.

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter