Record Butter Prices Highlight Export Demand Strain
A global surge in butter prices is creating new ripples across export markets. According to the UN FAO butter price index, global butter averages just over $7,200 per metric tonne at recent Global Dairy Trade auctions—a 54% rise from two years ago. This spike is driven by shrinking milk supplies amid drought and disease, especially…
New Zealand’s Butter Prices Surge, Prompting DIY Churning
New Zealand, renowned as the world’s leading dairy exporter, is grappling with a domestic butter price surge of 65% over the past year, elevating the average cost of a 500g block to NZD $7.42. This escalation is attributed to global supply constraints and robust international demand, particularly from Asia and the Middle East, which have…
Butter prices start to fall after wholesale milk prices ease
The price of own-label butter is starting to fall, according to The Grocer’s analysis of Assosia data. Eight own-label lines have seen price drops over the past four weeks across Asda, Morrisons, Sainsbury’s, Tesco and Waitrose. Standout fallers included a Sainsbury’s Salted British Butter line (500g), which saw a price drop of 20p (or 6%) to £3.35. Sainsbury’s, Morrisons and…
Butter Climbs to a Record High, Possibly Due to an Overcorrection
The following is from Lee Mielke, author of a dairy market column known as “Mielke Market Weekly.” Butter set a new record high to start October and cheese was mixed. The CME Cheddar blocks fell to $1.68 per pound last Wednesday, lowest since July 19, but closed last Friday at $1.7025, 1.75 cents lower on…