September 10, 2018
Global Dairy Weekly (week ended September 7, 2018)
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By JERRY DRYER and MATT GOULD, DAIRY & FOOD MARKET ANALYST
Dairy product prices mixed at the CME
Philadelphia, PA - Beginning with butter, it was a choppy trading week. On Tue, butter lost a penny and on Wed, settled at a low of $2.1875/lb, down 2.75 cents from last week. Then on Thu, the market reversed course, and today, climbed to $2.23/lb; 1.50 cents above last week. Despite the volatility, the tone in our network was mostly unchanged. We hear demand continues to be strong and fundamentals, in balance. During the three months ending Jul, domestic use of butter was up about 2.2%, according to USDA data.
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