Today on the CME there was no movement on butter. Hoogwegt has been, for all practical purposes, the sole player in moving butter down by way of offers. Butter has fallen over 45 cents in the past seven days. Does Hoogwegt make butter? No. Is there too much butter? No. Is this the market at work? No.
On what might be considered a more positive note, Kraft has been an active player in moving the price of barrels higher. Wonders never cease.