Butter | Butter Prices Remain High, Class III Milk Prices Climb

Dairy products were mixed in the CME spot dairy product auction on Thursday.

Spot cheese was unable to follow through yesterday’s gains. Block cheese held steady at $1.85/lb. Barrel cheese gave up ¼ of a penny to $1.9325/lb. Whey gained half a penny to $0.45/lb. Butter remained unchanged at $3.1475/lb. Nonfat milk rose 3.50 cents to $1.5650/lb.

Class III milk futures were mostly higher on the day. Q4 milk futures settled at $20.98/cwt. First half 2023 milk futures ended the day at $20.82/cwt. Class IV milk futures were 12-35 cents higher.

The grain market was varied. December corn fell 2.50 cents to $6.6850/bu. November soybeans tacked on 2.50 cents to $13.86/bu. December soybean meal gave up $5.60 to $405.90/ton.

The livestock sector saw both red and green. October live cattle added 12 cents to $144.37/cwt. October feeder cattle increased 45 cents to $184.40/cwt. December lean hogs declined 92 cents to $82.67/cwt.

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Topics |
Butter, Dairy, Dairy businesses, Dairy market, Dairy Processors, Farmers, industry, Milk, Prices, production

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