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Milk Payment Options & Other Supply Benefits
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Milk Payment Options & Other Supply Benefits
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MILK SUPPLY HANDBOOK 2017/18

This handbook outlines details of the milk payment structure and milk quality and collection policies effective from 1 July

Click here to view WCB Milk Supply Handbook 2017/18
 

Milk Prices & Payment Options

A choice of two pricing options - the highest paying option guaranteed

WCB has two pricing options that allow suppliers to pursue the payment structure most suited to their farm business.
 

1. Seasonal Supply Option
The seasonal supply option provides strong milk prices and cashflows for farmers with a more traditional milk production and calving pattern. This option may suit farmers with a majority of spring milk production.

 

2. Flat Supply Option
The flat supply option recognises the commitment and value of milk supplied to WCB out of season. The flat supply option includes a flat supply incentive in the February to July period to qualifying farmers. This option may suit suppliers with relatively flat production across the year.

 

Suppliers nominate their preferred system at the start of the year, BUT if at the end of the financial year, the other system proves higher, WCB will pay the difference!

So suppliers are guaranteed to end up with the highest paying option.

Cashflow a priority

WCB is committed to delivering earnings and cashflow straight into their suppliers' pockets.

All incentives are paid in the months that they are earned. Where incentives are dependent on annual production, an up-front incentive amount is paid each month, based on the farm's production history for the previous two years, with an adjustment made at the end of the financial year. 
 

Milk Supply Benefits & Options

As a WCB supplier, there are a number of services and options available including:

  • A choice of two milk price payment systems
  • Choice of milk payment: 10 Days or Monthly
    Would having your milk paid for every ten days help you save interest on your overdraft or farm loans? Would it help you to receive discounts on farm inputs such as grain?

    WCB offers farmers the choice of a traditional monthly milk cheque, or if you prefer, ten-day payments instead. No extra paperwork or costs are involved, still only one month end invoice and statement, but more frequent installments to your bank account.

  • Interest-free fodder and fertiliser advances
    WCB suppliers are able to obtain interest-free cash advances for the purchase of fodder or fertiliser. This allows suppliers to secure these inputs when they want them, without extra stress to their cashflow in low production months, or attracting interest charges.

    Fodder/Fertiliser advances are available, year round, to the value of $125 per cow. Repayment schedules are flexible, up to a period of 12 months from the date of the advance. Once an advance is repaid in full, the supplier has the opportunity to use the facility again.

    The application process is quick and simple, and available through Field Services. WCB Field Officers can also provide information about hay sources, ration formulations, feed and fertiliser budgeting. We take the hassle out of payment by paying the contractor/seller direct. Just send us the invoice and we will take care of it.
  • Choice of a separate GST account
    To assist with quarterly business activity sheet (BAS) payments, suppliers can opt to have the GST component of their proceeds paid into a separate account.
  • Milk Vat and Cooling System Interest Rebate Scheme
    The purpose of this interest rebate scheme is to assist suppliers purchasing a larger vat to meet volume requirements and avoid twice daily collections. This will create savings for the suppliers as well as the Company. The amount of rebate depends on whether the vat purchased is new or second hand.
  • Milk testing assistance
    WCB provides suppliers with the opportunity to run extra milk tests on vat or cow samples for BMCC and antibiotics, separate to milk collection, at no cost or penalty.
  • Secure, authorised access to supply database (ResultsPlus)
    In addition to the general company website, suppliers can log into a dedicated supplier site called 'ResultsPlus'. This protected site provides suppliers with authorised access to their milk production results and information specific to their milk supply.
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