The revised forecast indicates weaker global demand since September when the company’s last outlook was provided.
“Based on softer dairy commodity prices across the first half of the 2022/23 season, and the outlook for the remainder of the season we believe it is appropriate to lower our forecast base milk price to $9.00/kgMS,” Synlait’s CEO Grant Watson said.
Shares of Synlait Milk fell nearly 3% at market close.
Price (AUD): $3.36, Change: $-0.09, Percent Change: -2.61%
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