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.