Murray Goulburn cuts milk intake target

Murray Goulburn has cut its expected milk intake in the 2018 financial year by eight per cent to around 2.3 billion litres.

The troubled dairy processor has maintained its farmgate milk price guidance of between $5.20 and $5.50 per kilogram of milk solids, but says the strengthening of the Australian dollar will create some uncertainty in its ability to achieve the top end of the price range.

It expects to offset the impact of the milk intake reduction through various cost and business improvements.

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