First Milk has announced that its standard litre milk price will drop 0.3p per litre from June 2019.
The British farmer-owned co-op, which has 2,200 members, will reduce its milk price for the first time since February 2019.
This will take the liquid standard litre for June to 27.45ppl and the manufacturing standard litre to 28.37ppl, both including member premium.
Commenting on the announcement, Jim Baird, vice-chairman and farmer director, said: “Having provided much-needed stability for our members over the last few months on milk price, we unfortunately now need to make this adjustment in light of the downward pressure on UK dairy markets.
“Looking forward, global dairy markets are looking more positive and, with peak largely behind us, the UK milk futures (UKMFE) projections are also indicating an encouraging upward trend.”
