Butter | Butter Hits Its Highest Price Since January

Spot butter advanced to $2.9350/lb, the highest price since January in the CME spot dairy product auction.

Block cheese held steady at $2.2475/lb. Barrel cheese fell to $2.2750/lb. Dry Whey ticked up to $0.55/lb. NFDM gained a quarter of a penny to $1.87/lb.

Class III milk futures slowly grinded higher Thursday. June milk lost 14 cents to $24.31/cwt. July milk remained steady at $24.70/cwt. Class IV milk futures climbed on the day. July traded to $26.12/cwt.

The grain markets rebounded slightly after yesterday’s beatdown. December corn added 2.75 cents to $6.9425/bushel. November soybeans advanced 26.50 cents to $15.4175/bu. December soybean meal gained 60 cents to $399.00/ton. July Chicago Wheat surged 17 cents to $10.5825/bu.

The livestock sector was higher on the day. June live cattle moved 82 cents higher to $133.62/cwt. August feeder cattle rallied $3.22 to $172.95/cwt. June lean hogs settled 25 cents higher to $110.05/cwt. July crude oil increased $2.32 to $117.58/barrel.

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Butter, price

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