It is the highest ever opening price announced by the company.

In a letter to suppliers, Burra Foods chief executive Grant Crothers said the price was 14.5 per cent up on last year's opening price.

It was released on May 1, significantly earlier than before, and in response to farmer requests for earlier next season price signals, Mr Crothers said.

Mr Crothers said the Burra price reflected its confidence in demand for its product range and the current outlook for commodities.

The price range reflected the price received by the majority of its suppliers, regardless of whether they had already received the 2019/20 annualised portion of their commitment bonus.

It excluded milk solids committed to the company's fixed farmgate milk price.

Australian Consolidated Milk announced on Thursday an opening 2019/20 price for its organic milk suppliers of $9/kg MS, a 12.5pc lift on last year's opening price.

More record or near-record opening prices are forecast for southern Australia.

Rabobank senior dairy analyst Michael Harvey said milk price signals were improving.

"There have already been price signals from some dairy companies firming up prices for 2019/20," Mr Harvey said.

"With competitive tension for milk running hot - there will be near-record milk prices on offer in the new season."

Meanwhile, Saputo Dairy Australia announced it would not lift its current season price, despite an improving world market.

"While world markets have continued to show some improvement in the past few months, mainly due to easing growth in milk production and a reduction in skim milk powder stockpiles in the European Union, prices declined across dairy commodities during the first half of the 2018/19 season," a Saputo spokesperson said.

Saputo announced it was holding its current average farmgate milk price at $6.05/kg MS for season 2018/19.

It said it would review the price again in June, when it would announce the final closing price for the 2019/20 season.

But Saputo did point to an optimistic outlook for 2019/20.

"Seeing the signs of a sustained recovery in the market provides an optimistic outlook that milk prices can improve in the season ahead," the spokesperson said.