Spot Butter Prices Continue Decline as Global Butter Market Sees EU as Most Expensive
Source: DairyNews.today
Spot butter prices in the U.S. continued their downward trend, slipping to $2.86 per pound, down four cents, with eight loads trading. While U.S. butter prices soften, the European Union remains the most expensive market for butter, trading at $4.18 per pound. This contrasts sharply with prices in New Zealand and the U.S., both hovering at around $2.90 per pound.
Meanwhile, CME barrels dropped sharply, ending the day at $2.4275 per pound, down $0.1175, while spot blocks saw a smaller decline, down 1.5 cents to $2.1750 per pound. No volume was traded for either commodity.
Despite the drop in spot butter, Class III futures surged, with fourth-quarter contracts rising to $22.60 per hundredweight, up 15 cents. However, Class IV futures dropped by 24 cents to $21.76 per hundredweight. Butter futures also declined in line with spot prices, settling at $2.8920 per pound.
Globally, the U.S. continues to hold the highest prices for milk powders at $1.38 per pound, compared to $1.24 in New Zealand and $1.32 in the EU, highlighting ongoing price disparities across key dairy products.
23.09.2024
Carbon emissions in global milk production - the elephant in the room
I have been thinking to make this post yes/ no. I decided for yes and like to ask everyone to not "shoot the messenger". The chart shows an analysis of IFCN Dairy Research Network from the 2024 supporter conference in Poland.
