Murray Goulburn in trading halt as global dairy market curdles
Shares in Murray Goulburn have been placed in a trading halt, as Australia’s biggest milk processor revises its earnings outlook amid a bleak global environment for dairy products.
The halt is expected to last until next Wednesday.
Units in Murray Goulburn’s non-voting listed trust closed 0.5 per cent lower on Thursday at $2.14. This compared with the broader market gaining 1 per cent.
Murray Goulburn said in a statement to the ASX it would review the impact of market conditions on its 2016 outlook. Global dairy prices have failed to rebound as expected amid a persistent oversupply of products, stemming for Russian sanctions and with the world’s biggest dairy importer, China, stepping out of the market. Sydney Morning Herald – Read more…
The halt is expected to last until next Wednesday.
Units in Murray Goulburn’s non-voting listed trust closed 0.5 per cent lower on Thursday at $2.14. This compared with the broader market gaining 1 per cent.
Murray Goulburn said in a statement to the ASX it would review the impact of market conditions on its 2016 outlook. Global dairy prices have failed to rebound as expected amid a persistent oversupply of products, stemming for Russian sanctions and with the world’s biggest dairy importer, China, stepping out of the market. Sydney Morning Herald – Read more…
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