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.