Murray Goulburn lifts opening price

June 22, 2017

Murray Goulburn has lifted its opening price.

Murray Goulburn Co-operative Co. Limited (MG) has today announced an increase in its opening price to $5.20/kg milk solids

This represents an increase from the previously announced  opening of $4.70 Kg.

The company has also extended its forecast for the whole season from $5.20 to $5.50/kg.

Murray Goulburn said the previous opening price announcement on June 6 was earlier than in prior years in order to try to assist suppliers with budgeting and business planning.

"Since then, MG has had the opportunity to review the 2017/18 budget assumptions, which include dairy commodity prices, exchange rates and achieving cost out initiatives, as well as achieving milk intake of approximately 2.5 billion litres,'' the company said in a statement.

"The updated farmgate milk price has also taken into account improved commodity prices reflecting anticipated market returns, together with additional contracted sales.  

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