# Milk, Dairy and Grain Market Commentary

> Spot nonfat dry milk hit a record $2.26/lb as powder users struggle to find loads, while Class IV futures closed at $22.29/cwt, $4.73 above Class III. Butter and anhydrous milkfat fell at the GDT auction, with butter futures at life-of-contract lows.

- Date: 2026-04-24 · published 2026-04-24T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/19876-milk-dairy-and-grain-market-commentary
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Divergent powder strength and butter weakness point to uneven dairy demand, with powder tightness supporting Class IV and related protein feed demand while butter weakness limits broader dairy price gains.

## Read by commodity

- MILK: neutral

## Sources

- milkproducerscouncil.org: https://www.milkproducerscouncil.org/post/milk-dairy-and-grain-market-commentary-206

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.