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CME Group Grade A butter prices fell to a four-year low of $1.62 per lb on September 24 before rebounding to $1.72. Prices are down 37% from a year earlier.
Strong milk output, higher butterfat content and ample cream supplies are limiting any sustained rally.
Heavy cream and butter supplies keep dairy commodity prices depressed, which weakens milk prices and signals limited near-term support for dairy feed demand.
Not enough comparable past events yet for a historical read.
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.