First Milk increase February A milk price

First Milk, has increased its A price for February by between 0.85p/litre and 0.95p/litre.

The co-op’s just under 1,000 farmer owners will now receive between 26.05p/litre and 28.23p/litre for their milk.

See also: Arla increase milk price by less than a penny

It is now the eighth consecutive month First Milk has increased milk prices, a jump of 68.8% across the period, equal to a rise of 10.9p/litre since July.

The rise of less than a penny emulates Arla’s similar rise for February, and moves First Milk’s average price of its four milk pools to within 0.2p/litre of Europe’s largest processor.

Processors are showing caution at issuing the sorts of rises witnessed in the latter half of 2016, as UK production began to pick up in at the end of last year. 

“We are pleased to be again increasing our milk prices, with cumulative increases since June now about 11p/litre,” said First Milk CEO, Mike Gallacher.

“This is the eighth milk price increase in a row reflecting both the improvement in market returns and a leaner, more focused First Milk business.

“We anticipate updating members again later this week with positive news on the refinancing of the business.”