Dairy co-operative First Milk has lowered some of the prices to be paid out to members.

Following recent milk price announcements and continued market weakness, the projected returns for the brokerage business during February have reduced. This is as a direct result of the mechanism in place with customers.

Therefore February A milk prices will change as follows:

• Midlands & East Wales balancing will reduce by 0.62ppl
• Scotland balancing will reduce by 0.19ppl
• Milk prices for all other milk-fields remain unchanged

Newly re-elected vice-Chairman Nigel Evans said: “Myself and the whole Board fully recognise the difficulties which this continued market slump is creating for our members across the UK.

“Unfortunately, nobody is able to predict when global milk supplies will tighten or when markets will turn, in the meantime we remain 100 per cent focused on running First Milk as efficiently and effectively as possible to maximise the market value that we can pass back to our members.”

Source – Dairy Today