Lower milk production on U.S. dairy farms and labor shortages for processing plants have led to tight supplies of butter, sending prices soaring
Fewer cows resulted in less milk for butter churns, which pump out much of their butter in the first half of the year to be stored ahead of strong demand from home bakers during the winter holidays. Milk production through June declined by 1%, a sizable loss compared with the typical 1.5% and 2.5% annual growth, dairy economists said, though farmers have been rebuilding their herds, boosting milk production since then.
“It’s the second shift that typically runs over family time that’s become harder and harder to fill,” Mr. Reece said. Dairy executives and economists say rising costs are pressuring manufacturers’ profit margins. Prices for cream, a key component of butter, have soared in recent months, with some butter makers opting to sell cream to manufacturers of goods, such as ice cream, rather than churn it into butter.The latest economic news, analysis and data curated weekdays by WSJ's Jeffrey Sparshott.Competition for cream has grown in recent years as U.S.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lower rate of Canadians own homes despite increase in household incomesCanada\u0027s homeownership rate declined to 66.5% after peaking in 2011 at 69%, according to a Statistics Canada release. Read more.
Read more »
Queen Elizabeth's Funeral Ratings Lower Than Princess Diana'sQueen Elizabeth's funeral doesn't hold a candle to Princess Diana's when it comes to TV ratings -- in the U.S. and the UK -- but the reality is it's kinda hard to compare the events.
Read more »
US gas prices tick up, ending 99-day streak of lower costsA 99-day run of falling gasoline prices - a streak that gave consumers a glimmer of hope that red-hot inflation might be cooling - has ended, with pump prices still much higher than a year ago.
Read more »
US gas prices tick up, ending 99-day streak of lower costsA 99-day run of falling gasoline prices - a streak that gave consumers a glimmer of hope that red-hot inflation might be cooling - has ended, with pump prices still much higher than a year ago.
Read more »
US gas prices tick up, ending 99-day streak of lower costsA 99-day run of falling gasoline prices - a streak that gave consumers a glimmer of hope that red-hot inflation might be cooling - has ended, with pump prices still much higher than a year ago.
Read more »
Star Trek: Lower Decks S03E05 Images: Mariner & Boimler Go RecruitingWelcome back to our weekly preview of what's ahead with the third season of Mike McMahan and Paramount+'s Jack Quaid & Tawny Newsome-starring Star Trek: Lower Decks. This time around, we have preview images for S03E05 'Reflections' (written by McMahan and directed by Michael Mullen), which finds Mariner (Newsome) & Boimler (Quaid) reminding us of our old […]\n
Read more »