# CME butter prices plummeted again Tuesday - Brownfield Ag News

> Butter on the CME fell 24.5 cents to $2.70 on Tuesday, with no sales and only offers at $2.45. Milk futures were up slightly near term, cheese blocks were unchanged at $1.96, and nonfat dry milk fell 3 cents to $1.395.

- Date: 2022-11-01 · published 2022-11-01T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/8822-cme-butter-prices-plummeted-again-tuesday-brownfield-ag-news
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

A sharp butter sell-off lowers the Class IV milk price outlook and signals weak demand for butterfat. Near-term Class III futures were firm, so the impact on overall milk prices is mixed.

## Read by commodity

- MILK: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2022-11-01 | 1 | -5.2% | -3.7 | On the move date itself, CME butter plunged 24.5 cents with nonfat dry milk lower, a sign of weakening dairy sentiment, though cheese blocks were unchanged, so it explains only part of a Class III drop. |
| MILK | 2022-11-02 | 1 | -5.2% | -3.7 | CME butter plunged 24.5 cents on Nov 1 with no sales and nonfat dry milk fell 3 cents, signaling weak dairy demand and sentiment just before the Class III drop, though the direct link to Class III is partial. |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/cme-butter-prices-plummeted-again-tuesday/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.