Dairy Crest’s formula milk price has risen 0.028p/litre for July – the first increase since it was relaunched in April.

Farmers who committed to the cost-tracker earlier in the spring will be paid 32.019p/litre, including their 0.19p/litre early sign-up premium.

The formula was boosted by Dairy Co’s positive review of its cream index and slightly higher red diesel and concentrate costs in May.

See also: Farmers blockade Dairy Crest over milk price cuts

But downward pressure continued as the bulk cream price fell £50/t to £1,290/t, while retailer cost of four pints of milk dipped 2p to 116p.

Dairy Crest’s core and simplified formulas, developed with supplier group Dairy Crest Direct, now command a 0.639/litre premium over the standard liquid price of 31.19p/litre, even without the April sign-up bonus.

Farmers who want to start using the formula from July or commit more of the milk will be able to apply via email between 23-27 June.

About 65m litres extra milk is still available under the formula on a first come, first served basis.

Last month Dairy Crest cut its non-formula standard liquid price by 1.25p/litre, but held its Davidstow manufacturing contract at 33.19p/litre.