British farmer-owned First Milk has announced that its milk price for March will be reducing by 1.25 pence per litre.
Commenting on the announcement, Jim Baird, Vice Chairman and Farmer Director, said a "weaker dairy market" has impacted on revenue.
“As we’ve said in recent months, the weaker dairy market has impacted our revenue and we can only pay a milk price that relates to our returns”, Mr Baird said.
“We know that this further milk price drop will be disappointing to our members and continue to do all we can to mitigate the market conditions.”
It follows news of the National Farmers' Union (NFU) urging Arla to "speed up its commitments" to looking at risk management options for its suppliers.
Arla has announced it will be dropping its UK milk price by 2.16ppl – and since December, Arla farmers have seen a total drop of 5.19ppl.
