Butter arrived at the £2000 per tonne level and, by the beginning of this week, rose further to £2021 per tonne. Similarly, skim milk powder has soared above the £1400 per tonne level to stand at £1406 per tonne.
These are the highest intervention price levels seen in the UK since early March 1999 and compare with around £1800 per tonne for butter and £1250 per tonne for skim milk powder a year ago.
Even since last December the increases have been around 7%.
Market prices in the UK for bulk butter are clearly keeping pace with the rising intervention price as there were no offers to sell into intervention last week.