First Milk to hold milk price for August

British farmer-owned co-operative First Milk has today announced that it will be holding its milk price for August 2020 at the current level.

This means its liquid standard litre will remain at 26.75p/L, whilst its manufacturing standard litre will remain at 27.63p/L, both including its member premium.

Commenting on the announcement, vice chairman and farmer director, Jim Baird, said: “Even though the Covid-19 lockdown is starting to ease both here and overseas, there remains ambiguity about how the pandemic may develop and any consequent impact on dairy markets.

In these uncertain times, I am pleased that we have been able to hold our milk price again, demonstrating the strong performance of the business, and therefore, offering much-needed stability to our members.

It comes just days after Arla announced it would shave off 0.63p/L off its conventional litre price for July.

The processor’s conventional milk will decrease by 0.75c/kg bringing it to 29.26p/L, while the UK organic price will fall by 1.5c/kg from July 1 to 37.62p/L.