Synlait Milk (ASX:SM1) increases forecast milk price

Company News

by Rachael Jones

Synlait Milk (ASX:SM1) has updated its forecast base milk price for the 2019 / 2020 season to $7.25 kgMS from $7.00 kgMS.

Synlait’s decision to increase its forecast base milk price was driven by its view that global dairy prices will remain around current levels for the remainder of the milk season.

Synlait will continue to monitor movements and keep its farmer suppliers up to date.

Synlait’s next milk price announcement will be in late May 2020.

Shares in Synlait Milk (ASX:SM1) closed 1.5 per cent higher to $8.60 on Friday.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.