Butter, on the CME stayed at $1.57 per pound. Seems like good news until you realize world butter price, adjusted to 80% butterfat, is about $1.77 per pound.
With those numbers, no one should be surprised we exported in January and February of this year 41.1% more butter than the same first two months of 2009.
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Are there shipment costs to get US butter to the world market cash delivery location?
ReplyDeleteDon't be surprised if it is turned into butteroil or anhydrous milkfat and back here as fast as they can turn the ship around.
ReplyDeleteRusty