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Article: Rising Demand for Butter Fat Sends Dairy Prices Soaring.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- September 21, 1998
- Author:
CopyrightCOPYRIGHT 1998 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Knight Ridder/Tribune Business News
Sep. 19--Doctors may be cringing, but dairy farmers are smiling.
Sky-high demand for butter, ice cream, cream cheese and other products made from butter fat, coupled with sagging milk production, has sent dairy prices soaring to record levels.
That's bad news for consumers but welcome news to farmers struggling through some of the worst economic times since the 1980s.
Wholesale butter prices almost tripled to nearly $2.81 a pound this month from $1.04 a year ago. The base price farmers get for milk is expected to hit $15 a hundred pounds this month, up $3 from a year ago. "It's one of the brighter ...