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The June Federal Milk Marketing Order Class III price was announced at $19.87/cwt, up $1.32 from May and the highest since December 2022. The Class IV price rose to $21.08, and USDA issued its recommended decision on FMMO pricing formula changes.
Rising Class III and IV benchmarks and the proposed formula changes signal firmer US milk prices, which support dairy producers' feed purchasing power.
dairystar.comLee MielkeJul 13, 2024After 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.
