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The September 2023 Federal Milk Marketing Order Class I base price rose to $18.90 per cwt, up $2.28 from August and the highest since May. Class I prices will average about $21.72 per cwt across all orders after zone differentials.
The narrower spread between Class III and Class IV skim milk factors also drove the change.
The higher Class I base price signals firmer fluid milk pricing and better dairy farm returns. It can support milk production and feed demand in coming months.
agproud.comDave NatzkeAug 28, 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.
