Scenes from the US of farmers dumping milk and a collapse in the spot price for milk in the UK has unnerved markets and farmers. The dumping of milk is an extremely emotional action and quick to create negative sentiment in the market. The US has moved quickly to take milk off the market but unfortunately the European Commission continues to sit tight.

From an Irish perspective, it is important to recognise that the markets for which this milk was intended are very different to the market for Irish milk. The impact of a collapse in the food service sector across the EU and US immediately affected the fresh milk market on which many UK and US dairy farmers rely. Irish co-ops do not have the same exposure with the vast majority of milk processed into longer-life products.