A market advisor says the butter market is higher thanks to a little buyer anxiety.
Katie Burgess with Ever.ag tells Brownfield Tuesday’s $2.92 price was a new year-to-date high for the spot market, and she says the butter futures market is projecting record-high monthly prices for the next six months. “Futures are trading up over and above three dollars and I think that’s just a hangover from last year. Last year, we saw record high butter prices on top of what had been record high butter prices the year before.”
Burgess says buyers of butter are adding to their inventories now to avoid the high prices later.
