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Butter hits $3.0375

Another record-high price for butter on Thursday as the Chicago Mercantile Exchange price increased 2.75 cents to close at $3.3075 per pound.

Milk production in the Central United States is taping-off seasonally but still above year-ago levels.  Dairy Market News says milk supplies are “balanced” although spot loads are still bringing 75-cents to $2.50 over Class price.  Cream multiples are $1.25 to $1.40.

A little different story in the Northeast and Mid-Atlantic states where milk production is steady and extra loads are available at a discount.  Milk production is strong in the Southeast, Florida imported 92 loads this week compared to 112 last week.

Out West: cooler weather has led to increased milk production in Northern California while Southern dairies are still getting hot spells.  Recent heavy rains are pushing production lower in New Mexico and Arizona as lots and holding areas are muddy.  That is affecting quality as well.

The weekly cow slaughter numbers from USDA show dairy cow slaughter for the week ending August 30^th was 55,800 head, 11 percent or 6,900 less than the same week a year ago.