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The USDA announced an April Class III benchmark of $15.50/cwt, down 84 cents from March and $3.02 below a year earlier, as cheese, nonfat dry milk and whey prices fell. The Class IV price rose slightly to $20.11, while CME butter strengthened to $3.0750/lb.
Lower cheese and whey values pull down Class III milk, while firmer butter lifts Class IV, narrowing the gap between the two classes. Feed buyers should expect mixed dairy-sector margins and steady demand for dairy by-products.
farmers-exchange.netMay 10, 2024Not enough comparable past events yet for a historical read.
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.
