Milk forecast scaled back
AUSTRALIA’S biggest dairy processor, Murray Goulburn, has cut its forecast milk intake for the 2017- 18 financial year but says the reduction has not affected the price that the company expects to pay farmers for their milk.
“At this stage, Murray Goulburn’s total FY18 ( 2017- 18 full- year) milk intake is expected to be approximately 2.3 billion litres, prior to any significant upside or downside from seasonal impact,” Murray Goulburn said yesterday.
In June, Murray Goulburn said it expected a milk intake of about 2.5 billion litres.
But it says farmgate milk price for the season remains at $ 5.20 per kilogram of milk solids, and the price range for the whole year is still forecast to be between $ 5.20 and $ 5.50.