The price will drop by 0.25ppl from February 1
First Milk has announced its member milk price will reduce from February 1 by 0.25ppl to 27.5ppl for the liquid standard litre.
This equates to 28.43ppl on a manufacturing standard litre.
Jim Baird, vice chairman and farmer director, said: “The impact of downward pressure in the markets during the latter part of last year has taken longer to influence cheese markets than some other dairy commodities, and it is that lag which has resulted in this milk price reduction for February.
“Hearteningly, dairy markets have recovered in recent weeks, and there are signs of more stability ahead. The uncertainties over Brexit continue, however, so it too early to predict what will happen with milk prices.
“We remain focused on delivering as much stability as we can – something reflected in the scale and timing of our recent milk prices movements.
“As we look to the year ahead, we are concentrating on delivering growth to deliver dairy prosperity for our members.”