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Federal Milk Marketing Order administrators reported November 2023 uniform prices down slightly in most regions, with the Class I base price at $19.75 per cwt, $4.34 below a year earlier. Higher butterfat and protein tests partly offset the lower prices.
Lower uniform prices reflect weaker dairy returns, a modestly bearish backdrop for milk and dairy-related feed demand.
agproud.comDave NatzkeDec 15, 2023After 273 past bearish report events, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% 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.
