Wednesday butter prices moved to levels we have not seen since September of 2015. Altogether butter gained 2 ¾ cents to $3.14 3/4 per pound.
Branch manager of Agdairy, Robin Schmahl says there is more strength to follow in this market.
“It’s interesting to see not there’s that much aggressive buying in this market in these record highs. Even though inflation is at the level it is right now.”
He adds that while consumers have slowed their purchases of butter at the retail level, demand is overall doing well, thanks to a very strong export market. For the month of July, butter exports were up over 60% compared to a year ago.
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