FIRST Milk has today announced that its milk price for March will be reducing by 1.25p per litre because of a weakening market.

Jim Baird, vice-chairman and farmer director, said: “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.

"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.”