Stephenson: Dairy market a bit of a surprise
A dairy analyst says there are some unusual things happening in the market recently.
Mark Stephenson, Director of the University of Wisconsin’s Dairy Profitability Center, tells Brownfield it is uncommon to see supplies and prices go up at the same time. He tells Brownfield, “Obviously, we see a lot of stocks, dairy products. Those things are overhanging markets make us a little bit concerned but prices have still been holding, so we’ve been surprised at how well they look.”
And, he says the strong global demand for butter is a big part of that. “Europe is just astonished. You know, they’ve had prices of more than six-thousand dollars per metric ton for butter that they’ve been trying to find offering, and in fact, they were asking when I was over there a couple of weeks ago about, ‘Don’t the U.S. have some butter supplies that we might be able to tap.’”
Stephenson says butter also has a good domestic supply and demand outlook.
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