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May 2025 Federal Milk Marketing Order prices were announced, with Class III at $18.57 and Class IV at $18.13 per cwt. Class III rose $1.09 from April, and Class II fell 50 cents.
Butterfat and protein values both rebounded in May.
Improving Class III and IV prices point to firmer milk revenue, which can support dairy herd size and feed demand over the coming months.
After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% over 20.
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.