Butter prices are soaring in the European market with latest quotes putting butter at over €7,200/t, an increase of €575/t over the last four weeks and an increase of €2,500/t over the last four months. The last time butter prices reached this level was in 2022, when butter peaked at €7,400/t. The futures market is putting butter at €7,500/t by October.
Butter prices are soaring in the European market with latest quotes putting butter at over €7,200/t, an increase of €575/t over the last four weeks and an increase of €2,500/t over the last four months.
The last time butter prices reached this level was in 2022, when butter peaked at €7,400/t. The futures market is putting butter at €7,500/t by October.
The price increase for butter is a boost to Irish dairy processors, who are traditionally big butter producers, although reduced supplies are affecting their ability to capitalise on the price rise.
Unlike in 2022 when all dairy commodity products increased, the current price rise is more or less limited to butter.
Skim milk powder is 40% lower than the 2022 peak and cheddar cheese is 20% lower than the 2022 peak price.
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