At $3.3720 per pound, the five-month run that saw the federal order butterfat price set new monthly records from June to October ended in November 2022 milk checks. However, the November $3.3720 per pound figure remained higher than both June and July’s previous records.
Here’s how the November butterfat pay price compares to the previous five months:
$3.66 in October
$3.57 in September
$3.40 in August
$3.36 in July
$3.33 in June
While the spot U.S. butter price continues to be strong, the price has fallen in the past six weeks. At the opening of trading on Thursday, December 1, spot butter began the day at $2.88 per pound. By way of comparison, by Friday, October 21, U.S. butter prices had been $3.20 per pound.
Meanwhile, at New Zealand’s Global Dairy Trade, butter sold for $2.19 per pound on November 15, 2022. The next trading session will be Tuesday, December 6, 2022.
As a point of reference, protein was valued at $2.5374 per pound. That was up a little over 8 cents from October’s $2.4512 per pound.
Corey Geiger
December 5, 2022
hoards.com
