UK: FIRST MILK ANNOUNCE NEW BOARD AND CUT MILK PRICES

First Milk have cut February farmgate milk prices on reduced projected returns for their brokerage business. The Midlands & East Wales balancing pool A price has been cut by 0.62ppl and Scotland balancing has been cut by 0.19ppl. Milk prices for other milk fields remain unchanged. First Milk have also announced their new board of directors: Clive Sharpe has formally assumed his role as chairman of First Milk, with Nigel Evans and Jim Baird being confirmed as the two farmer directors (down from five previously). It was also confirmed that Nigel Evans, on stepping down as acting chairman, would be vice chairman of the new board. Wendy Radley, Willie Campbell and Robert Craig are no longer farmer directors. The remaining board comprises CEO Mike Gallacher, COO Brian Mackie and non-exec director Carl Ravenhall.