# Class III Milk Futures Erode Further - Dairy Herd

> Class III milk futures remain at a discount to spot prices, which suggests the market expects a significant spot break. Spot cheese has held in the 10-cent range seen since the start of 2025, while dry whey has moved as expected. Class IV is under pressure, with NDM losing its premium to global values and butter futures being sold heavily.

- Date: 2025-02-26 · published 2025-02-26T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/26202-class-iii-milk-futures-erode-further-dairy-herd
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Futures trading below spot points to softer forward milk values unless spot cheese and butter prices recover. Weakness in butter and NDM also pressures the Class IV complex.

## Read by commodity

- MILK: bearish ▼

## Sources

- dairyherd.com: https://www.dairyherd.com/markets/milk-prices/class-iii-milk-futures-erode-further

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