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Butterfat prices reached a record high in October, with the FMMO butterfat price at $3.7144 per pound and CME butter averaging a record $3.3814. Dairy exports for the first nine months of 2023 were 7.5% lower than a year earlier, though exports to Mexico rose.
Record butterfat prices and weaker export volumes point to firm domestic dairy prices, with limited export pull for dairy commodities and feed demand.
hoards.comHoard', s Dairyman staffNov 14, 2023Not 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.
