Westland Milk Products is the latest dairy company to slash its forecast milk payout for the 2015-16 season as international dairy prices continue to decline.
The country's second largest co-operative lowered its forecast payout for the current season by $1 to a range of $4.60 to $5 per kilogram of milk solids.
It has taken another 10c off the still to be confirmed milk price for the past season to a range of $4.80 to $4.90.
Last week the country's second largest processor, Open Country Dairy, revised its price down to below $4, and Fonterra will lower its opening forecast from five-dollars-25 when the co-operative's board meets next week.