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Farmers cautiously optimistic about Murray Goulburn future after board shakeup -

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Farms that supply the dairy giant Murray Goulburn say they're cautiously optimistic about the future of the cooperative after a shake up of the company board.

Almost six months to the day since the collapse of Australian farm gate milk prices, Murray Goulburn chairman Phil Tracy apologised to suppliers and announced he would step down.

At the company's annual general meeting in Melbourne today, Mr Tracy said he was ultimately responsible for the processor's performance.

Rather than anger, the mood in the room was one of cautious optimism from farmers and investors alike.

Bridget Fitzgerald reports.