milk price | Synlait opening forecast matches Fonterra’s

Synlait’s opening forecast for the new dairy season is $8/kg MS.

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.

“Synlait farmer suppliers have received, on average, $0.28/kg MS incentives above the base milk price for the last two seasons.

“The company is forecasting to pay similar incentives for the 2023/2024 and 2024/2025 seasons,” it said.

Synlait’s final milk price for the 2023-2024 season will be confirmed when the company’s full-year result is released in September.

The 2024/2025 season forecast will also be updated at the same time.

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Topics |
milk price, Synlait

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