The dairy highlighted milk volumes were significantly ahead of previous years.
Meadow Foods will be reducing its milk price by 0.75ppl from April 1, taking their standard A litre milk price to 26.75ppl.
Despite some initial worries over forage stocks this winter, the dairy highlighted milk volumes were significantly ahead of previous years.
Market prices had been holding up due to lower milk production on the continent, however, both UK and European milk volumes have now started to pick up pace.
Mark Chantler, Chief Executive of Meadow Foods, comments: “Despite holding our price for consecutive months, the increased volume of milk on the market and reduced price of cream has forced us to react to market pressures.
“As we head into the flush, we will continue to closely monitor volumes and how they will impact the market as well as the potential effects of Brexit.”