Unfortunately, Butterfat prices shot up more than expected this past month, making their biggest gains year-to-date. Similarly, cocoa prices have increased impacting chocolate mixes. We were very fortunate to see the declines in commodity prices in the first half of the year, but it was inevitable that commodity prices would eventually make a rebound. Consequently, we will need to increase our dairy mixes accordingly effective September 1st. We expect that they will level off by the end of the third quarter.
As always, thank you for your loyalty to Meadowvale. It is a privilege to serve you.
You can view the Current Market Charts, updated with commodity pricing through July 2023, in the President’s Corner.