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CoBank says retail butter prices are up 13% year to date, and CME butter is up 27.3%. Class IV milk is above Class III and has reached new record farm prices.
Butter supplies are tight even though US butterfat production is at record levels.
Tight butter supply and record Class IV prices lift milk values for producers. High retail prices could push consumers toward substitutes and reduce demand for dairy.
cobank.comJun 9, 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.
