Synlait cuts forecast milk payout for this season as prices remain low

Sun, 31 Jan 2016

By Tina Morrison Feb. 1 (BusinessDesk) - Synlait Milk, the NZX-listed dairy company, cut its forecast milk payout for this season as global commodity prices stay lower for longer. The Rakaia-based company lowered its forecast milk price for farmers for the 2015/16 season to $4.20 per kilogram of milk solids, from a previous forecast of $5/kgMS, it said in a statement. Synlait's revised forecast comes after similar moves this year from rivals Fonterra Cooperative Group, Westland Milk Products, and Open Country Dairy. The milk processor...

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