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Spot butter rose 14 cents to $3.18 on a single trade, and futures had a limit-up close with heavy volume. Class III futures pressed lower while Class IV closed higher, and the November Class IV contract settled $3.39 per hundredweight above Class III.
The widening III/IV spread shows divergence between cheese-driven and butter-driven milk pricing, which affects which dairy products herds and processors prioritize. Strong butter disappearance supports butter values but does not lift cheese-linked milk prices.
stonex.comDairy TeamSep 27, 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.
