Butter caught the dairy industry by surprise in late September. On the Chicago Mercantile Exchange, spot butter hit an all-time high of $3.34 per pound on September 28, 2023. According to the T.C. Jacoby Weekly Market Report, domestic demand outstripped supply in late summer, as buyers also are loading up to ensure they have enough supply for the upcoming holiday baking season. Holstein springer values caught a whiff of that prosperity in recent weeks as well, with 3 of 4 reporting markets posting stronger values through September. Though heifer calf trade was light, their value also was up over the past month.
| Springing Heifers | Heifer Calves | |
Location (sale date) | Supreme/Top | Approved/Medium | 90-120 pounds |
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Turlock, Calif. (9-29-23) | $1,850-2,400 | No test | - |
Lomira, Wis. (9-30-23) | $1,300-1,800 | $900-1,200 | $100-200 |
Pipestone, Minn. (9-21-23) | $2,250-2,450 | $2,050-2,250 | No test |
New Holland, Pa. (9-27-23) | $1,575-1,925 | $1,500-1,575 | $145-210 |
