Synlait | Synlait lifts forecast to $9.50/kg MS

Synlait’s increase follows strengthening in global commodities prices since last update in early October.

Synlait has increased its forecast base milk price by 50 cents to $9.50/kg MS for the 2024-2025 season.

The increase follows recent strengthening in global commodities prices since Synlait’s last update on October 10.

In a statement on NZX, the company said: “Synlait remains committed to delivering a competitive milk price, advanced rates, and to ensure its on-farm offering remains highly attractive to farmer suppliers.

“Forecasts are based on the best information available to Synlait at the time. Synlait will continue to monitor movements and update farmer suppliers as required.”

It comes after Fonterra lifted its forecast midpoint from $9 to $9.50/kg MS and narrowed its forecast range from $8.25-$9.75 per kg MS to $9-$10/kg MS earlier this month. This was driven by strong demand for commodity products as seen in the past few GDT auctions.

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Synlait lifts forecast to $9.50/kg MS

Synlait’s increase follows strengthening in global commodities prices since last update in early October.

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