Butter Price Reaches Record High

(Milwaukee Journal Sentinel/MCT) -

The cash price for butter hit an all-time high Friday on the Chicago Mercantile Exchange.

Butter hit $2.8225 a pound in Friday trading, topping the $2.81 record price it reached in 1998.

The cash price for butter on the CME began the month at $2.40 a pound.

Butter prices have soared this year as worldwide demand has grown.

Higher-end prices for dairy products are good news for dairy farms, but bad news for foodmakers who use butter as a major ingredient in their products.