WARRNAMBOOL Cheese and Butter has announced an opening price of 28 cents a litre or the equivalent of $3.78 kilogram of milk solids.
Chief executive and managing director John McLean said in his letter referenced the drop in international commodity prices and the volatile US dollar to the Australian dollar exchange rate."We understand that a return to these pricing levels will present difficulties for many farm businesses and will endeavor to increase prices throughout the season as circumstances allow,'' he said.
"There are many changes being implemented across our operations. I, along with the board and all WCB staff look forward to collaborating with our suppliers and broader stakeholders to consolidate WCB's standing and prospects for the future.''
Supplier meetings will commence on July 27.
