Today, Jerome, naturally, continued to drive both block and barrel down.
Oddly, butter rose to $1.56 a pound (blocks are $1.4325/lb.). Dairygold sold the butter and Schreiber bought all the loads.
Schreiber is a huge company (6000 employees)which mainly focuses on cheese. That is not to say Schreiber has no interest in butter. Schreiber is a world player, with a plant in India (How interesting).
Needless to say the world price for butter is just under $1.80/lb when adjusted to 80% bf.
Although there is little future in running the price of cheese down, and Schreiber is a common player in that process, Schreiber may be considering the future (not futures)regarding supply of cream.