Murray Goulburn boosts milk solids opening price

The dairy cooperative Murray Goulburn has announced it is increasing its opening price for milk solids.

The cooperative is offering $5.73 cents a kilogram for milk solids - 13 cents more than the opening base price it had previously announced.

That is a 27 per cent increase on the 2012 to 2013 opening price.

Murray Goulburn's Robert Poole says it released its opening price early to respond to producers.

"Then June went by and of course the currency has kept falling right through June and we finished our budgets in May, so we've had quite a good change to the outlook in terms of currency," he said.

"We're a big exporter and it seemed a logical move for us to do what we always do as a co-op, that's pass on this extra cent a litre."

Source: ABC News, 1 July 2013