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February 2026 Class III milk price was announced at $14.94 per cwt, up 35 cents from January but well below the 2025 average of $18.01. Class IV rose to $16.29, and CME Class IV futures for March and April through June are trading above $19 and $20.
Class III futures are rebounding more slowly, reaching just above $18 for June.
Class IV futures strength suggests firmer dairy protein demand, though the milk supply surge continues to restrain Class III gains. Buyers should expect milk price recovery to be uneven across product classes.
centerfordairyexcellence.orgMar 19, 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.
