# The Tides are Shifting in the Class III Futures Market - Dairy Herd

> Class III futures traded lower across the curve on August 20, with most volume in the September and October 2025 contracts. Q4 Class III futures settled at $18.02 per hundredweight, down 16 cents, and Class IV also fell. Butter futures held a premium to spot, implying a possible spot rally by October.

- Date: 2025-08-20 · published 2025-08-20T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/23485-the-tides-are-shifting-in-the-class-iii-futures-market-dairy-herd
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

A lower futures curve signals softer expected milk prices for the fall, while the butter premium hints at some later support.

## Read by commodity

- MILK: bearish ▼

## Sources

- dairyherd.com: https://www.dairyherd.com/markets/tides-are-shifting-class-iii-futures-market

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