# Economic update: September 2023 Class I base price rebounds | Ag Proud

> 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.

- Date: 2023-08-28 · published 2023-08-28T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/34744-economic-update-september-2023-class-i-base-price-rebounds-ag-proud
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

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.

## Read by commodity

- MILK: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2024-02-26 | [Economic Update: March 2024 Class I base price improves \| Ag Proud](https://feedsoft.ai/events/5465-economic-update-march-2024-class-i-base-price-improves-ag-proud.md) | +3.9% | +1.7% |
| MILK | 2022-03-08 | [Economic Update: February Class III-IV milk prices higher \| Ag Proud](https://feedsoft.ai/events/42420-economic-update-february-class-iii-iv-milk-prices-higher-ag-proud.md) | -0.9% | +4.2% |
| MILK | 2017-08-02 | [August dairy economic update: MPP-Dairy margin rebounds -  \| Ag Proud](https://feedsoft.ai/events/5479-august-dairy-economic-update-mpp-dairy-margin-rebounds-ag-proud.md) | +4.8% | +6.7% |
| MILK | 2022-06-10 | [Economic Update: USDA cuts 2022-23 milk production forecasts, raises price projections \| Ag Proud](https://feedsoft.ai/events/41104-economic-update-usda-cuts-2022-23-milk-production-forecasts-raises-price.md) | -0.5% | -6.9% |
| MILK | 2026-09-02 | [Class III milk price rebounds in August as others fall \| Ag Proud](https://feedsoft.ai/events/17621-class-iii-milk-price-rebounds-in-august-as-others-fall-ag-proud.md) | -2.9% | -10.3% |

## Sources

- agproud.com: https://www.agproud.com/articles/58212-economic-update-september-2023-class-i-base-price-rebounds

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.