Synlait cuts market milk price to $4.40/kgMS, ups capital spend

Sun, 01 Feb 2015

By Fiona Rotherham Feb. 2 (BusinessDesk) - Synlait Milk, the listed dairy processor, has today cut its forecast market milk price for the 2014/2015 season along with a corresponding decrease in advance rates to farmers due to depressed global dairy prices. The Canterbury-based company lowered its forecast payout to $4.40 per kilogram of milk solids from a previous forecast of $5.00/kgMS, it said in a statement. The move follows dairy exporter Fonterra Cooperative Group revising its forecast farmgate milk price down 60c to $4.70/kgMS in De...

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