MG lifts price

Murray Goulburn has raised its opening farmgate milk price by about 10 per cent and lifted the higher end of its full-year range following a review.

Source: David Geraghty, courtsey The Australian

The dairy co-operative on Thursday said it was raising its opening 2017/18 price by 50 cents to $5.20 per kilogram of milk solids.

It widened its full-year target range to between $5.20 and $5.50, lifting the top end from $5.40.

“MG recognises that in the current competitive environment it needs to maintain milk supply and provide improved cash flow for suppliers,” Murray Goulburn said in a statement to the ASX.

“The decision to revise the opening price to $5.20/kg is intended to assist in maintaining competitiveness and support the supplier base.”

Read the full article at The Australian, 22 June 2017.