July 2 — The Chicago Mercantile reports Grade AA Butter ends the week at $1.7375. The weekly average was $1.7544.
Weekly butter prices are reported from the Chicago Mercantile Exchange every Friday. The Merc is considered a spot market for butter. Merc prices are important to dairy farmers because the value of the fat and fat differentials in raw milk are established from the prices quoted from the Exchange, and Merc prices are used in the BFP update.