British dairy processor First Milk has announced it will reduce its milk price by 0.3p/L from June 1, 2019.
This will take the liquid standard litre for June to 27.45p/L and the manufacturing standard litre to 28.37p/L, 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.
First Milk is 100% farmer-owned by around 800 members. The firm produces award-winning cheddar, regional cheeses and dairy ingredients, as well as marketing fresh raw milk to many other UK dairy processors.
The processor has four processing sites including its Haverfordwest Creamery in Pembrokeshire; the Lake District Creamery in Cumbria; Campbeltown Creamery, Argyll; and Torrylinn Creamery on the Isle of Arran.
Arla is expected to announce its June milk price later this week.