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The October 2022 Federal order Class III milk price was $21.81/cwt, and the Class IV price was $24.96/cwt, the highest October Class IV on record. Cash butter fell sharply in late October and early November, dropping to $2.61/lb before recovering slightly to $2.7725 by November 4.
Class III futures pointed to November and December prices near $20.69 and $20.19/cwt.
Sharp spot butter losses and lower Class III futures signal near-term downward pressure on milk prices, though high Class IV levels keep the year's average elevated.
thelandonline.comLee MielkeNov 16, 2022Not 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.
