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The May FMMO advanced Class I base price rose to $20.15 per cwt, up $1.49 from April, driven by record nonfat dry milk prices in Class IV. Advanced butterfat factor fell to $1.86 per pound from April's high.
Record NDM prices lift the Class I price and signal strong protein demand, which supports milk and protein-based feed ingredient values. Lower butterfat points to a softer fat side.
agproud.comJenn Coyne, Karen LeeApr 23, 2026Not 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.
