# Terrain | Is a Correction Coming for Class III Milk Prices?

> An analyst writes that Class III milk prices rebounded from an April low of $15.50/cwt to $18.55 in May, with June expected slightly below $20. Third-quarter 2024 Class III futures have traded at $20-$21/cwt, but the analyst sees more downside than upside risk for the rest of 2024.

- Date: 2024-07-02 · published 2024-07-02T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/29415-terrain-is-a-correction-coming-for-class-iii-milk-prices
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Export demand for cheese, driven by US prices falling below global competitors, tightened US stocks and lifted milk prices. With cheese now above $2/lb, the analyst expects export sales to slow, which would weigh on Class III milk and dairy feed demand.

## Read by commodity

- MILK: bearish ▼

## Sources

- terrainag.com: https://www.terrainag.com/insights/is-a-correction-coming-for-class-iii-milk-prices/

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