Most of the downward movement occurred in the first half of the month as a result of both the ample milk supply situation and low demand. However, once prices dropped to world price levels in the middle of the month, buyers returned to the market and prices stabilised. Whilst this relationship with world prices is maintained, UK butter prices are unlikely to see further significant falls.
DairyCo Datum: UK butter prices realign to global markets
UK wholesale prices for butter fell significantly in February to £2,875/tonne ($4,757/tonne) – their lowest value in 12 months and £425/tonne (13%) lower than January.
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