The T.C. Jacoby Weekly Market Report Week Ending November 10, 2023
After more than a month in the stratosphere, the butter market plummeted back to earth. CME spot butter crash-landed today at $2.60 per pound, down 50.75ȼ from last Friday and more than 90ȼ lower than the all-time high set five weeks ago. Cooler weather has boosted milk production and component levels, and cream is more widely available.
After more than a month in the stratosphere, the butter market plummeted back to earth. CME spot butter crash-landed today at $2.60 per pound, down 50.75ȼ from last Friday and more than 90ȼ lower than the alltime high set five weeks ago. Cooler weather has boosted milk production and component levels, and cream is more widely available. In the East and Central regions, cream multiples have lagged seasonal averages for four straight weeks, which has prompted churns to ramp up production. Stocks are still a little snug, but butter buyers clearly feel they have enough product to get through the holidays.
November 13, 2023
dairybusiness.com
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