[1 June/The Country]

A bullish outlook for butter prices encouraged Westland Milk Products to increase its farmer payout forecast from $6.75 to $7.20 per kg of milksolids for 2018/19. This compares with $7.00 for Fonterra and Synlait Milk. Westland Chairman, Pete Morrison, said the coming season’s forecast was driven by an improved sales outlook. He added they were seeing improved performance from its infant and toddler nutrition and UHT plats and consumer butter had been exceptional. He noted Westgold was out selling all other gourmet butters in New Zealand combined, and it was starting to reach sales levels comparative with established brands. Synlait Managing Director, John Penno, said its opening forecast was based on milk fat prices remaining firm throughout the season.[1 June/The Country] A bullish outlook for butter prices encouraged Westland Milk Products to increase its farmer payout forecast from $6.75 to $7.20 per kg of milksolids for 2018/19. This compares with $7.00 for Fonterra and Synlait Milk. Westland Chairman, Pete Morrison, said the coming season’s forecast was driven by an improved sales outlook. He added they were seeing improved performance from its infant and toddler nutrition and UHT plats and consumer butter had been exceptional. He noted Westgold was out selling all other gourmet butters in New Zealand combined, and it was starting to reach sales levels comparative with established brands. Synlait Managing Director, John Penno, said its opening forecast was based on milk fat prices remaining firm throughout the season.