First Milk has become the latest processor to announce a milk price decline fall for next month, declining by 1.40p per litre.
The move means its milk price on a manufacturing standard litre will sit at 37.89p per litre, including the member premium.
Robert Craig, First Milk's vice-chairman, admitted that the news would be 'unwelcome' for the processor's farmer suppliers.
“But it does appear that dairy markets are stabilising and, as always, we’ll continue to work to maximise the milk price for our members in the months ahead.”
The UK’s largest independent processing dairy has announced a significant drop in its milk price from 1 June.
Freshways, a dairy processor which supplies hotels, airlines and the food industry, will slash its milk price by 3p per litre from next month.