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June 2023 Class III milk fell $1.20 to $14.91/cwt, the lowest since May 2020, while Class II and advanced Class I prices also declined. Class IV rose 16 cents to $18.26/cwt, creating a wide Class III-IV spread.
Uniform prices are expected to fall.
Lower Class III prices reflect weak cheese and whey values, signalling softer dairy incomes that can curb feed demand and pressure dairy-linked feed prices.
agproud.comDave NatzkeJun 30, 2023Not 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.
