Craft Volume Up 5% in First Half 2009

Dear Client: The Brewers Association reports that "despite many challenges" in the economy, craft volumes were up 5% in the first half of 2009, compared to being up 6.5% in the first half of last year. Dollar growth increased 9%, suggesting higher pricing and/or mix shift, down from 11% growth last year. Craft volume was 4.2 million barrels, compared to 4 million barrels sold in the first half of 2008. While this is a slowdown, indy craft brewers are still