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Ireland continues to place SMP into intervention, according to the latest figures from the Milk Market Observatory.
Last week, between 25 and 31 July, Ireland sold 389t of SMP into public intervention. This is the fourth consecutive week the country has used public intervention for this product, meaning Ireland has offered 2,224t of SMP into intervention since the beginning of July.
At the most recent farm council meeting, EU Agriculture Commissioner Phil Hogan announced that the intervention period for SMP would be extended past 30 September this year until February 2017.
The limit for the amount of SMP in intervention was also recently raised from an already revised limit of 218,000t to 350,000t. This is nearly triple the original limit of 109,000t. The total amount of SMP in intervention in Europe currently stands at 246,864t.
Although dairy prices are still in the doldrums, there was a ray of hope for dairy markets this week when the GDT jumped by almost 7%, its highest jump since last year.
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