Open Country Dairy the country’s second largest milk processor has slashed its forecast milk price range for the last third of this season by 50c. The company is telling suppliers that they will be pay between $7.50 to $7.80/kgMS for milk supplied between February and May. Last month it was forecasting between $8 to $8.30/kgMS. If the current forecast holds, then Open Country suppliers will end up receiving $8.33/kgMS for their milk this season. Open Country chief executive Mark de Lautour, is new to the role and says this is not the news he wanted to communicate. However, he says it is a timely reminder that this is a tough business. .. And we should all look to take a very prudent look at our day-to-day costs. This month, Fonterra also reduced its farmgate forecast range for the season by 20c to a new range of $8 to $8.60/kgMS.