Australia’s farmer-owned dairy company - Murray Goulburn today advised the co-operative’s dairy farmer - shareholders of a further increase in the farmgate milk price.

In his statement to suppliers, Managing Director Mr Stephen O’Rourke advised of a price increase of $0.25/kg protein and $0.10/kg butterfat for milk supplied across the 2010/11 season.

In announcing the step-up Mr O’Rourke said that world markets had softened slightly recently, however he expected prices to continue to hold reasonably firm towards year end.

“This step-up takes our prices well into the forecast final price range of $5.30 - $5.50 kg ms, predicted at the start of the season. The current available price is now approximately $5.42 per kilogram milk solids on a weighted average basis,” Mr O’Rourke said.

“We will continue to monitor market returns during the final quarter of the season with a view to paying a final step-up after year end.”

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