Murray Goulburn has downgraded its estimated milk intake from 2.5 billion litres to 2.3 billion litres for the 2018 financial year.
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This reduction is not expected to impact the opening farmgate milk price of $5.20 per kilogram of milk solids as it has been offset by cost and business improvements.
The milk processor plans to maintain its season forecast range of $5.20 to $5.50 per kilogram of milk solids for the coming year, but cautioned a strengthening Australian dollar could make achieving the upper end of the range uncertain.
Murray Goulburn said it would consider all avenues to maximise the available farmgate milk price.
Results for the 2017 financial year are expected by August 22.
Deutsche Bank AG has been appointed as Murray Goulburn’s financial adviser for the comprehensive strategic review of the milk processor’s business.