Synlait Milk lowers forecast payout for 2016-17 season after fall in dairy prices

Fri, 16 Jun 2017

By Rebecca Howard June 16 (BusinessDesk) - Synlait Milk, the NZX-listed dairy company, lowered its forecast payout for its farmer suppliers the season that just ended following what it termed a "significant drop in the dairy market." The dairy company said its forecast base milk price is now $6.15 per kilogram of milk solids for the 2016-17 season versus a prior base milk price of $6.25 per kilo of milk solids. The season runs from June 1 to May 31. However, it will also pay a 14 cent premium payment for milk suppliers that provide milk...

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