Friday 13 July 2012
Australia
Murray Goulburn cut milk prices
Dairy giant Murray Goulburn has announced an eight and a half per cent cut to its opening milk price next season.
The co-operative told its more than 2,500 dairy farmer suppliers today that it will pay $4.50 a kilogram for milk solids, 42 cents less than at the same time last year.
Managing director Gary Helou says falling export prices for dairy are to blame.
"Importantly, the outlook is that of a reasonably soft price horizon particularly given the strength of the Australian dollar, as opposed to the weakness of the American and the euro, which makes their exports out of their regions a little more a lot more competitive," he said.
"There is no question about the softness of prices on the world markets."
Source: None
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