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U.S. spot butter prices fell nearly 6 cents per pound during the week, while nonfat dry milk rose to $2.2125 per pound. H5N1 was detected for the first time in an Indiana dairy herd, and Washington’s outbreak cluster reached 40 affected premises; the November 3 Global Dairy Trade auction posted a third consecutive index gain, led by cheddar and whole milk powder.
The outbreak adds disease risk to dairy production, while the divergent butter and dairy-protein price moves point to uneven demand across product segments. The article does not establish a clear price effect for the listed feed or livestock commodities.
therio.aiNov 6, 2026After 54 past disease events, Milk (Class III) moved a median -0.0% over 5 sessions (46% higher; middle half -0.6% to +0.5%), and -0.6% 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.
