The potential losses to the dairy sector from the net effect of the 4% intervention price reduction and the increase in the dairy cow premium amount to less than €14 million a year or 1% of the farm gate value of milk output. The additional 4% will amount to a 6 cent reduction per gallon equivalent. Of that 6 cent per gallon equivalent, 5 cent will be compensated for through the dairy cow premium. The reduction is therefore a 1 cent per gallon equivalent. That reduction is intervention and if our co-ops and co-op plcs do not rely on intervention they do not have to suffer the loss at all. Obviously, the intervention price reduction will only have effect if product is sold into intervention. If product is sold where it should be sold – on the market-place – there may not be any loss at all. Depending on market prices, there could be substantial gains.