Butter | Spot Butter Surges Higher

Spot butter surged 9.50 cents higher to $2.40/lb in the CME Spot Dairy Auction.

This marks the highest price since July of 2019. Block cheese climbed 2 cents to $1.93/lb. Barrel cheese 4.50 cents to $1.6325/lb. Whey held steady at $.75/lb. NFDM slipped half a penny to $1.6625/lb.

Class III milk futures were mixed. January milk fell 4 cents to $19.85/cwt. February milk soared 20 cents to $20.40/cwt. March milk was up 8 cents to $20.27/cwt. Class IV milk rallied 8-25 cents higher with the nice move higher in butter today.

The grain market lost steam throughout Tuesday, with most of the grains ending lower on the day. March corn lost a dime to $6.0475/bushel. January soybeans fell 3.25 cents to $13.5925/bushel. March soybean meal gained 80 cents to $409.10/ton. March Chicago Wheat dropped 20.50 cents to $7.8350/bushel.

The livestock sector was mixed on the day. February live cattle gained 12 cents to $139.40/cwt. January feeder cattle advanced $1.15 to $163.55/cwt. February lean hogs declined $1.02 to $82.62/cwt. February crude oil added 36 cents to $75.93/barrel.

Look also

General Mills Foodservice to provide expertise at International Pizza Expo

General Mills Foodservice is stepping up its presence at this year’s International Pizza Expo, taking place March 28-30 at the Las Vegas Convention Center. In addition to expanding access to its popular Pizza Crust Boot Camp featuring the Doughminators, its dedicated dough experts, the company will feature dough demonstrations throughout the expo (booth #807) and showcase its newly acquired line of high-quality frozen pizza crusts from TNT Crust (booth #1353).

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