Cursor Usage

hi guys

i have a table that contains a tremendous amount of row. i have written a stored procedure that takes a summary of that information and updates it's master table as well as another table. the problem is it takes very long to do. is what i am doing correct or is there a better way. here is the source

CREATE PROCEDURE update_cvrbatches
AS

declare @code varchar(25),@type varchar(3),@batchno varchar(10),@batchqty Float,@issued float,@returned float,@transfered float,@itemcount float,@totestcost float,@totactcost float,@reserved float,@warehouse varchar(3)

Update cvrwarehouse set BoughtQty =0, IssuedQty = 0, ReservedQty =0 ,Returned = 0 ,Transfered = 0

DECLARE getbatches CURSOR
for
select Code,Type,BatchNo,sum(BoughtQty) as BoughtQty,sum(IssuedQty) as IssuedQty,sum(ReservedQty) as ReservedQty,sum(ReturnedQty) as ReturnedQty,sum(TransferQty) as TransferQty,count(Barcode) as ItemCount,
sum(EstCost) as EstCost,sum(ActCost) as ActCost,Warehouse
from cvrbatches
Group by Code,Type,Colour,Quality,CustomField,BatchNo,Warehouse
OPEN getbatches

FETCH NEXT FROM getbatches into @code,@type ,@batchno ,@batchqty,@issued ,@reserved,@returned ,@transfered ,@itemcount ,@totestcost ,@totactcost ,@warehouse
WHILE @@FETCH_STATUS = 0
BEGIN
--doen iets hier


update cvrbatchctrl set BatchQty = @batchqty, Issued = @issued, Reserved = @reserved ,Returned = @returned ,Transfered = @transfered, ItemCount = @itemcount,TotalEstCost = @totestcost,TotalActCost = @totactcost
where Code = @code and Type = @type and Warehouse = @warehouse and BatchNo = @batchno

update cvrwarehouse set BoughtQty =BoughtQty + @batchqty, IssuedQty = IssuedQty + @issued, ReservedQty = ReservedQty + @reserved ,Returned = Returned + @returned ,Transfered = Transfered + @transfered
where Code = @code and Type = @type and Warehouse = @warehouse

FETCH NEXT FROM getbatches into @code,@type ,@batchno ,@batchqty,@issued ,@reserved,@returned ,@transfered ,@itemcount ,@totestcost ,@totactcost,@warehouse

END
CLOSE getbatches
DEALLOCATE getbatches



is there a better way??