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'The business continues to perform well' - First Milk announces October price hold

The co-operative has announced its fourth consecutive price hold which it said came despite weakening dairy markets in that period.

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First Milk has confirmed it will hold its member milk price for October.

 

This means First Milk’s liquid standard litre price for October will remain at 27.45ppl and its manufacturing standard litre will remain at 28.37ppl, both including its member premium.

 

Stability

 

It was the fourth consecutive month of price stability for the co-operative’s members which it said came despite dairy markets weakening during that period.


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Jim Baird, Vice-Chairman and farmer director, said: “We are pleased to be able to provide continued consistency for our members at this time.

 

“The business continues to perform well and has delivered a strong trading performance in the first half of the year.

 

“We will continue to do all that we can to maintain returns despite the obvious uncertainties ahead.”

Relief

 

NFU Scotland Milk Committee Chairman John Smith, a First Milk member who farms in Kintyre said: “The holding of the First Milk price for October will be a relief to producer members as the wet weather takes its toll on grass quality and availability which in turn puts pressure on milk yield and the levels of protein in the milk in particular.

 

“The low value of sterling makes the cost of imported soya and maize - key components of most dairy rations – far more expensive.

 

“Members should also note First Milk’s warning that the future price may be difficult to hold heading into the winter as there is so much uncertainty abount.”

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