Tuesday, 30 January 2018 09:50

Synlait retains forecast milk price

Written by 
Synlait say its forecast is dependent on commodity prices continuing to firm for the rest of the season. Synlait say its forecast is dependent on commodity prices continuing to firm for the rest of the season.

Synlait Milk has reaffirmed its milk price forecast of $6.50/kgMS for the 2017-18 season.

However, the company has signalled that this forecast is dependent on commodity prices continuing to firm for the rest of the season.

“Our price of $6.50/kgMS has remained in place since May 2017, but global pricing remains unpredictable,” says John Penno, Synlait managing director.

“It is too early in the season to give pricing certainty, but we believe there may be a period of price stability over the coming months.

“Milk prices have largely been dropping since October, but over the past month the strengthening outlook for the global economy, subsequent rising general commodity prices, and the reduced milk production forecast due to difficult weather conditions, have seen dairy commodity prices strengthen,” he says.

Synlait’s next milk price update for the 2017 -18 season will be in May.

More like this

Synlait's milk price drop

Canterbury milk processor Synlait has reduced its 2019-20 forecast base milk price by 20c to $7.05/kgMS.

Synlait Milk concerned with Covid-19 

Independent milk processor Synlait says Covid-19 has so far had no impact on its financial performance, however the processor remains greatly concerned.

Featured

Get ready for the ‘now’ norm

Get prepared for a ‘Now Normal’ future, says Ian Proudfoot – Global Head of Agribusiness for KPMG – discussing the likely effects of COVID-19 in the months to come.

 

Northland farmers count the costs

Northland farmers are starting to count the cost of one of the most severe droughts to hit the region as the cost of feed and lower prices for stock are the order of the day.

Times will get better for deer sector

While the deer industry faces several challenges in the short term, there will be a strong rebound in New Zealand venison sales once global demand recovers.

» The RNG Weather Report

» Latest Print Issues Online

Milking It

Effluent power

Finnish dairy company Valio is on a mission to reduce milk’s carbon footprint to zero by 2035.

What’s in a name?

The man who coined the term ‘Gypsy Day’ is slightly miffed that a term he introduced to New Zealand’s farming…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter