Butter prices have soared by €290/t this week to reach €7,645/t on the European market, surpassing the previous peak of €7,410/t set in 2022. The futures price of butter is now over €8,000/t for October. Other commodities are also increasing in price, with cheddar cheese gaining €145/t and whole milk powder gaining €155/t this week.
Butter prices have soared by €290/t this week to reach €7,645/t on the European market, surpassing the previous peak of €7,410/t set in 2022. The futures price of butter is now over €8,000/t for October.
Other commodities are also increasing in price, with cheddar cheese gaining €145/t and whole milk powder gaining €155/t this week.
The prices are fuelled by low stocks, particularly of butter and cream and concerns over future stocks as bluetongue outbreaks across Europe are reducing milk supplies. This is despite the fact that milk supply for the first six months is up by almost 1% across Europe, but down in other regions.
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