Murray Goulburn flags deeper cuts to ensure viability

 In Australia, NewZealand
Murray Goulburn has warned that unless it is successful in slashing costs further, it may not be able to meet the farmgate milk price indicated to dairy farmers for the year ahead.
In a statement to the ASX on Tuesday morning, the troubled milk processor forecast a farmgate milk price of between $5.20-$5.40 a kilogram of milk solids for the 2018 financial year, although the opening price has been set at a more modest $4.70.
This represents a slight reduction from the $4.95 paid in the season ending this month which is up from the opening price of $4.45. All prices relate to the southern milk region. Sydney Morning Herald – Read more…

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