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MRV's market commentary says butter prices rose 17 cents versus the prior month with steady sales, while block cheese fell about 11 cents. Butter production was up 2.9% year over year in September, and NDM and SMP output fell 17.7% and 18.7%.
US milk production declined for a third straight month.
Lower powder output and falling milk production support dairy prices, while the cheese decline weighs on Class III values.
mrvdairysolutions.comNov 9, 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.
