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Similarly cautious approach cited by dairy companies for new season forecasts.
Synlait’s opening forecast for the new dairy season is $8/kg MS.
It said it is taking a conservative approach at the beginning of the season, given the exposure to volatile future global dairy commodity prices.
The price matches Fonterra’s mid-point forecast announced on May 29. Synlait also maintains its forecast for the 2023-2024 season at $7.80/kg MS, it said in a statement on NZX.
“The company is forecasting to pay similar incentives for the 2023/2024 and 2024/2025 seasons,” it said.
The 2024/2025 season forecast will also be updated at the same time.
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