The Irish Farmers Journal understands that Irish co-ops are already preparing the specific packaging needed for placing butter and skimmed milk powder (SMP) into intervention.

Prices

Prices for butter and SMP are teetering on the edge of intervention at €2,500/t and €1,700/t respectively, and will fall into intervention territory by the end of this week.

Global markets

The speed of the decline in global dairy markets over the last 10 days is unprecedented, as COVID-19 continues to play havoc with the global economy.