# 'Dairy margins continued to erode over the second half of November'

> The USDA announced the November Federal order Class III milk price at $17.18/cwt, up 27 cents from October but $2.77 below a year earlier. The November Class IV price fell to $13.89, its lowest since February 2021. The latest Global Dairy Trade auction was the eighth straight decline, with the weighted average down 4.3%.

- Date: 2025-12-10 · published 2025-12-10T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/21661-dairy-margins-continued-to-erode-over-the-second-half-of-november
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Falling global dairy prices and weak Class IV returns point to ongoing pressure on milk values, which weighs on dairy-sector demand for milk-based feed ingredients and reduces producers' margins for buying feed.

## Read by commodity

- MILK: bearish ▼

## Sources

- farmersadvance.com: https://www.farmersadvance.com/story/news/2025/12/10/dairy-margins-continued-to-erode-over-the-second-half-of-november-as-milk-prices-dropped-to-new-lows/87685709007/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.