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The US butter market is moving from abundance to scarcity as dairy herd numbers fell by about 85,000 head between May and September. Reduced milk output is cutting butter production and drawing down inventories, pushing prices higher.
Lower herd size and shrinking butter stocks support higher dairy prices into 2022, which tightens milk-based byproduct supply for feed buyers.
dairyprocessing.comNate DonnayDec 22, 2021After 20 past bullish macro events, Milk (Class III) moved a median +0.1% over 5 sessions (55% higher; middle half -0.1% to +2.4%), and +2.4% 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.
