MILWAUKEE — 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.