DAIRY FARMER co-op First Milk has announced that it will be reducing its milk price for February 2018 by one pence per litre.
The co-op blamed the cut on "downward pressure in global commodity dairy markets" over recent months.
Commenting, First Milk vice-chairman and farmer director, Jim Baird said: “Improvements in First Milk’s business performance meant that we could delay a milk price reduction for January. Recent market developments will affect our customer pricing mechanisms, however, and we can only pay a milk price linked to our returns.
“We understand that this will be disappointing news for our members and remain completely committed to doing everything we can to reduce the impact of decreases in the market through our focus on quality and efficiency throughout our business, and through the development of our strong relationships with customers. Working together, we will deliver competitive returns to our members.”
The February cut brings FM's Haverfordwest pool price down to 29.57ppl, its Lake District pool down to 29.45ppl, its Midlands and East Wales pool to 28.4ppl and its Scottish pool to 28.09ppl.
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