CME: CME Butter Market Comes Under Pressure
US - After just two trades, the CME cash butter price fell 2.25 cents today to $1.3950/lb, writes Alan Levitt, in Monday's dairy report.
28 February 2012
1 minute read
More downward
price pressure is possible because Wednesday, Feb. 29 is the last trading day for butter produced prior
to Dec. 1, 2011 at the CME. The CME cash cheese markets closed unchanged with blocks at
$1.4675/lb., after five trades, and barrels at $1.4700/lb. with a single offer left on the board. Class III
futures closed higher while butter futures were lower.
According to the Ithaca Jounal, another yogurt plant will call New York home. PepsiCo and Theo
Muller Gmbh, Germany’s largest privately held dairy business, will invest $206 million and create 186
new jobs at the new plant in the Genesee Valley Agri-Business Park, located 105 miles west of
Syracuse. New York is already home to 29 yogurt plants that produced more than 530 million pounds
of yogurt in 2011. According to the state, that is 43 percent greater than in 2010 and more than double
2008 production levels.
A Daily Dairy Report observation, the growth in New York yogurt production would seem to provide an
opportunity for further processing of butterfat being produced from these plants.
Further Reading
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