◂ Event Timeline

Oct 12, 2024REPORTUS

Class III milk price highest in more than 2 years

USDA announced the September Class III milk price at $23.34/cwt, up $2.68 from August and the highest since June 2022. Class IV also rose to $22.29, its highest since November 2022, while a dockworker strike at East and Gulf Coast ports was resolved with a contract extension to January 15, 2025.

WHY IT MATTERS

Higher Class III and IV prices reflect tighter milk supply and support dairy margins, which can lift demand for dairy-feed inputs such as DDGS and soybean meal. Port disruptions raised export risk for dairy products, but the temporary resolution limits the near-term impact.

AFFECTSMilk (Class III)▲

SOURCE
dairystar.comLee MielkeOct 12, 2024

Price reaction & history

Milk (Class III)▲bullishSO FAR1d 0.0%5d +1.0%20d -11.1%

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.

Aug 6, 2019Class III Milk Price Highest in Almost 4 Years Up $3.45 since last year | The Bullvine+1.0%
Sep 13, 2019Milk price highest in 5 years | TheFencePost.com-0.3%
Jan 11, 2022Milk price forecast $23, highest in eight years | Capital Press-0.2%
Dec 6, 2019Dairy prices reach highest levels in five years+0.3%
Dec 22, 2021The 2021 Class III milk price forecast was raised-0.3%

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.

Milk (Class III) MILK · GP ▸

——— · ·

Loading…