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The September FMMO Class I base milk price fell to $17.04/cwt as lower advanced butterfat and cheese values outweighed a firmer Class IV skim factor. NDM prices averaged $1.5603/lb over the reference period.
A lower Class I base price reduces minimum regulated fluid milk prices for September, which is bearish for milk values in the fluid and manufacturing pools.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.