· Step up of 20 cents in average milk price to $5.50 per kilogram of milk solids (kgMS)
· Updated forecast closing milk price range of $5.50 to $5.80kgMS for the 2017/18 season
· Previously announced additional 40 cents/kgMS payment takes total cash paid to $5.90kgMS, and forecast closing range cash paid to $5.90 to $6.20kgMS.
Fonterra Australia has today advised its farmers of an increase of 20 cents per kilogram of milk solids (kgMS) to its farmgate milk price for the 2017/18 season, bringing its average farmgate milk price to $5.50kgMS. The increase will apply from 1 July 2017 and will be paid on 15 August 2017.
Fonterra’s additional payment of 40 cents/kgMS is payable on top of the revised farmgate milk price, and brings the total average cash paid to $5.90kgMS.