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Daily Dairy Report says U.S. milk output rose 3.7% in October and cream output climbed 5.9%. CME spot butter fell 6.5 cents to $1.415 a pound, its lowest since February 2021, and butter production is up 10.1%.
Surging butterfat output and record-low butter prices weigh on milk values, and some producers are cutting feed supplements, which trims feed demand.
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Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.