Butter Prices Continue to Soar Due to Ongoing Supply Shortage

Butter prices are currently the highest they've been since 2017.

Butter is our lifeblood, our saving grace. When all else fails, butter is there for us to spread on toast, toss into mashed potatoes, shower on our movie popcorn, or use to whip up a cake. But this essential ingredient is starting to cost a pretty penny, and right before its biggest time to shine, the holiday baking season.

Butter is currently the most expensive it's been since 2017, with the price of the savory spread up 24.6% over the 12 months ending in August, according to the Wall Street Journal. Furthermore, the US currently has the lowest amount of butter in storage facilities within that same five-year period, so there's not a solid reserve to rely on.

There are several reasons for the price increase, including rising inflation costs. To make matters worse, due to the ongoing effects of the pandemic, labor shortages continue to slow things down at processing facilities across the country while the demand for butter continues to outpace supply in the Midwest, for example, according to the latest USDA dairy market report

The report also reveals that butter makers on the West Coast are running reduced production schedules. In the Northeast, retail butter demand is just picking up, yet tight inventories are causing some producers to regulate their supply across existing orders.

In short, you might want to reconsider before making that butter board.

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Jeremy Porr is a News Writer at Thrillist. Follow Jeremy on Instagram.