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The October Federal order Class III milk benchmark was announced at $21.81/cwt, up $1.99 from September and the highest October Class III price since 2014. Cash butter fell sharply in late October, dropping to $2.61/lb before recovering to about $2.77.
Strong milk prices and volatile butter support dairy margins and herd economics, which can sustain dairy feed demand, while the butter selloff signals softer dairy product demand.
capitalpress.comLEE MIELKEFor the Capital PressNov 8, 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.
