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Big turnaround in the two sectors

Rural News
Big turnaround in the two sectors

What a huge change around in fortunes that is illustrated by AFFCO and Westland dairy results this week. Plunge-The West Coast farmers who topped the nation's dairy payouts last season with an average of about $900,000 each have been hit by plunging payout predictions. Westland Milk Products (WMP) says its forecast for the season is now down by more than $2/kg milksolids, the Westport News reported.The payout was likely to be between $5.20/kg and $5.60/kg. Last season's payout was a national record -- $8.29/kg milk solids, but a payment of $5.20 this season would be a drop of more than 37 percent.  Profit-Meat processor Affco has posted net profit of $60.2 million for September year, in stark contrast to the $1.2m profit it made in 2007 reports Business Day. The 2008 profits were boosted by more favourable than expected trading conditions in the second half-year and increased market share. Affco said $40.8m of the full year profit came from trading activities.The remaining $19.4m stemmed from Affco's shareholding in Dairy Trust, which launched a successful takeover of Open Country Cheese Company.

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