British farmer-owned First Milk has announced its milk price will decrease by 0.25p per litre from February.The dairy co-operative has today (16 January) announced that its farmer member milk price will reduce from February 1, 2019 by 0.25ppl to 27.5ppl for the liquid standard litre (4% butterfat, 3.3% protein).This equates to 28.43ppl on a manufacturing standard litre (4.2% butterfat and 3.4% protein).
The decision follows a price reduction which hit its farmer members on 1 January.Commenting on the announcement, Jim Baird, vice chairman and farmer director, said: “The impact of downward pressure in the markets during the latter part of last year has taken longer to influence cheese markets than some other dairy commodities, and it is that lag which has resulted in this milk price reduction for February.
“Hearteningly, dairy markets have recovered in recent weeks, and there are signs of more stability ahead. The uncertainties over Brexit continue, however, so it too early to predict what will happen with milk prices.
Source: Farming UK