Butter price hikes could push opening forecast to $7.50
Soaring butter prices may see next season’s milk price go beyond $7/kgMS – even as high as the mid sevens.
Oat milk marketer Oatly Inc is pressing its suppliers to raise production by 50% in the next few months to meet demand. A growing preference for plant-based ‘milk’ appears to be driving the changes. Data from earlier this year show almost 33% of UK consumers aim to quit cow milk in 2018. And 50% of US dairy consumers say they plan to buy vegan milk.
