Soggy spring milk and earnings slump adds to MG worries

Andrew Marshall
Updated October 20 2016 - 4:32pm, first published 4:00pm
Murray Goulburn co-operative, the business behind the Devondale dairy brand, has warned its net profit after tax will fall below $42 million for 2016-17 because of a likely 20 per cent slump in milk receivals.
Murray Goulburn co-operative, the business behind the Devondale dairy brand, has warned its net profit after tax will fall below $42 million for 2016-17 because of a likely 20 per cent slump in milk receivals.

An unusually wet spring, plus low farmgate milk prices and a rush of suppliers quitting its ranks have hit Murray Goulburn’s (MG) earnings, also convincing it to temporarily axe its contentious payment “clawback” scheme.

Andrew Marshall

Andrew Marshall

National agribusiness writer

Andrew Marshall is the group agribusiness writer for ACM's state agricultural weeklies and websites. He is a former editor at The Land and has worked in various Rural Press group roles in Canberra, North Richmond (NSW) and Toowoomba (Qld).

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