Worse Is Yet To Come?, page-1256

I agree with most of your thoughts. The point you make in par 6 is a fear mongering tactic and doesn't match the reality of the situation. We haven't made money for 2 years supplying MG, where as we would have made money both years supplying Saputo. If I was to stay with MG for the good of the industry my milking herd would continue to shrink and more of the farm would be devoted to beef. The day after MG announced the $4.70 milk price I switched from inseminating my cows with Holstein to beef semen. I have always AI'd my heifers to Jersey. This April Murray Grey bulls replaced the Jersey AI and clean-up bulls. Further to that is the notion that it takes a co-op to make the multi-nationals pay up is flawed. It is the niche marketers like a2 milk/moxey farms and pop-up companies like UDC and milk brokers like ACM that will drive milk prices, and even if the MG competitors start profiting in a meaningful way, more competitors will arrive looking for suppliers, keeping profits in check.
I see no future in the co-op model and would not consider supplying MG again if it remains that way. If it were to merge with Bega I would consider it and if it were to be bought-out by Saputo I would almost certainly return.
I differ from Observer who sees a full float as a way forward because it still leaves MG a one trick pony, (that is southern milk pool). I still see MG as greatly under valued and $2-$3/share possible atm given any competition. Question is given the opportunity; would supplier holders sell ?
Agreed that board is giving it their best shot. Sincerely hope your investment works out as I too are heavily invested.