Murray lifts milk price

MURRAY Goulburn has raised its opening farmgate milk price by about 10 per cent and lifted the top end of its fullyear target range following what it says was a review of its budget assumptions.

The dairy co-operative has raised its opening 2017/18 price to $5.20 per kilogram of milk solids, 50¢ higher than the price that disappointed suppliers and contributed to a 23 per cent two-day fall in Murray Goulburn shares when it was announced two weeks ago.