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September 2023 Class III milk rose $1.20 to $18.39 per cwt, and Class IV rose to $19.09, both highest since January but well below September 2022. Milk checks for September production are expected to reflect stronger protein and Class III prices.
Improving September milk prices support producer margins modestly, but the expected weakening of cheese prices in October points to softer dairy income ahead for feed buyers.
agproud.comDave NatzkeOct 9, 2023After 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.
