Victorian Dairy Farmers to Prepare for the Worst

The dairy company Warrnambool Cheese and Butter expects to record a loss of more than $12 million this financial year, reports ABC News.

Rabobank analyst Tim Hunt says global dairy prices have fallen sharply during the economic downturn, cutting the export revenues of dairy companies in Australia.

According to ABC News, Mr Hunt says dairy companies are facing the toughest trading conditions in a lifetime.

He says companies will pass on the pain to dairy farmers, and cut what they pay for milk from July.

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