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Nearby Class III milk prices are in the $18 range, with deferred contracts around $19, as cheese production stays elevated. Dairy processors and farm groups are also debating a petition to raise make allowances in federal milk marketing orders, with USDA due to respond by April 29.
Cheese demand is holding up Class III prices, but high feed costs leave margins weak, so producers need either feed relief or stronger milk prices. The make allowance petition could change how milk is priced in federal orders.
dairystar.comDon WickApr 24, 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.
