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The September Class III milk price was announced at $18.39/cwt, up $1.20 from August and the highest since April. Butter output fell 12.1% from July to 140 million pounds, and butter prices reached a record high.
Lower butter output and a rising Class III price support milk values, which improves dairy margins and feed buying capacity.
dairystar.comLee MielkeOct 23, 2023After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% over 20.
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.
