Murray Goulburn Co-operative Co. Limited/MG Unit Trust (ASX:MGC) has started a comprehensive strategic review of its strategy, corporate structure, profit sharing and capital structure.
It aims to brief the market about the review in August.
Murray Goulburn says while three sites will be closed (as it previously annouced), more has to be done to move the business forward, as the site closures come into effect in FY19.
The agricultural cooperative also announced its full year 2018 Southern Milk Region farmgate milk (FMP) price will be in the range of $5.20 per kilogram of milk solids to $5.40 per kilogram.
The range is however subject to commodity prices, exchange rates, and achieving milk intake of about 2.5 billion litres.
It comes as the diary food company also announced its FY18 opening Southern Milk FMP was $4.70 per kilogram of milk solids.
Shares in Murray Goulburn Co-operative Co. Limited/MG Unit Trust (ASX:MGC) last traded 1.71 per cent lower to 86 cents.