# Benchmark creeps up 27 cents | TheFencePost.com

> The USDA's November Class III milk price was $17.18/cwt, up 27 cents from October and $2.77 lower year on year. The November Class IV price was $13.89, the lowest since February 2021. Commodity and Ingredient Hedging warned that dairy margins kept eroding as milk prices hit new lows while feed costs held steady or softened.

- Date: 2025-12-15 · published 2025-12-15T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/21663-benchmark-creeps-up-27-cents-thefencepost-com
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Milk futures are under heavy pressure from rising production, and USDA has raised its 2026 milk output estimate, which points to weaker milk prices. Lower farm margins may also reduce dairy herd and feed-buying demand.

## Read by commodity

- MILK: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2025-11-19 | [Benchmark drops 68 cents \| TheFencePost.com](https://feedsoft.ai/events/22109-benchmark-drops-68-cents-thefencepost-com.md) | -0.2% | -8.1% |
| MILK | 2022-09-09 | [Benchmark drops $2.42 \| TheFencePost.com](https://feedsoft.ai/events/39723-benchmark-drops-2-42-thefencepost-com.md) | +0.2% | +11.7% |
| MILK | 2022-08-12 | [Benchmark drops $1.81 \| TheFencePost.com](https://feedsoft.ai/events/40201-benchmark-drops-1-81-thefencepost-com.md) | -0.2% | -1.7% |
| MILK | 2021-01-08 | [Benchmark milk price plummets \| TheFencePost.com](https://feedsoft.ai/events/49313-benchmark-milk-price-plummets-thefencepost-com.md) | -3.7% | -7.2% |
| MILK | 2018-12-14 | [Benchmark milk price drops $1.09 \| TheFencePost.com](https://feedsoft.ai/events/61716-benchmark-milk-price-drops-1-09-thefencepost-com.md) | +0.5% | +2.2% |

## Sources

- thefencepost.com: https://www.thefencepost.com/news/benchmark-creeps-up-27-cents/

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