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The USDA set the federal order Class III milk price for December at $16.04 per hundredweight, down $1.11 from November and the lowest since July. The 2023 Class III average finished at $17.02, versus $21.96 in 2022.
Class IV for December fell to $19.23.
Lower cheese-driven Class III prices reduce dairy-sector income and dampen demand for dairy-based feed ingredients, while expected weaker milk output in the US, Europe and globally could support a modest recovery in the first half of 2024.
dairystar.comLee MielkeJan 13, 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.
