First Milk has announced that its milk price will see an increase of 0.7 pence per litre for August 2024.
The move means the UK processor's milk price on a manufacturing standard litre will sit at 41p per litre, including the member premium.
Mike Smith, vice-chairman, said there had been recent positive momentum in global dairy market prices driven by sentiment, which now appears to have stabilised
"Many of our members continue to face challenging on-farm conditions, with unpredictable weather continuing to impact forage availability both now and potentially for the upcoming winter.
"As a result, we are pleased to announce this increase to our milk price at this time.”
Farmer-owned co-operative Organic Herd has also announced its milk price for August, which will see it jump by 3p per litre to 54ppl.
