Synlait announces increased forecast milk price for current season

Company News

by Anna Napoli

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$9.510 $0.010 0.11%
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Last Updated: 19/06/2019 10:09 AM

Synlait Milk (ASX:SM1) has increased its forecast milk price for the 2018/2019 season from $6.25 kgMS (Milk Solids) to $6.40 kgMS.

The increase comes on the back of recovering dairy commodity prices since January this year.

The dairy company has also announced its opening forecast base milk price for the upcoming 2019 / 2020 season is $7.00 kgMS.

Synlait says it's positive about pricing for the 2019 / 2020 season but acknowledges the $7.00 kgMS relies on pricing remaining robust throughout the season.

Shares in Synlait (ASX:SM1)closed 0.46 per cent higher at $8.70 yesterday.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.