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Podcast: MID-WEST FARM REPORT - MADISON
Episode: Butter Demand - Great! Butterfat Supply - Too High.
Description: Butter prices have fallen to their lowest level in four years, even as demand climbs heading into the holiday season. CoBank lead dairy economist Corey Geiger says the drop stems from strong milkfat supplies. Butterfat production on U.S. farms is up about 6 percent month over month, while butter sales are up 4.5 percent. Despite a 250 percent jump in butter exports helping to support the market, Geiger notes that the imbalance is pushing prices down. After nearly a decade where butterfat led milk checks, he expects protein to regain its top spot in dairy farmer revenues as the market adjusts...