# Economic update: February FMMO milk class prices back to 2021 levels | Ag Proud

> February 2023 Class II, III and IV milk prices all declined from January and reached their lowest levels since the fourth quarter of 2021. The Class IV-III spread widened, which creates incentives for Class IV depooling.

- Date: 2023-03-07 · published 2023-03-07T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/36860-economic-update-february-fmmo-milk-class-prices-back-to-2021-levels-ag-proud
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Lower federal order class prices reduce dairy farm revenue and dairy demand signals, pressuring milk values and the feed purchasing outlook.

## Read by commodity

- MILK: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2023-02-07 | [Economic update: January FMMO Class III-IV prices lower \| Ag Proud](https://feedsoft.ai/events/37364-economic-update-january-fmmo-class-iii-iv-prices-lower-ag-proud.md) | +0.6% | -0.8% |
| MILK | 2025-03-06 | [February 2025 Class II, III and IV milk prices lower \| Ag Proud](https://feedsoft.ai/events/4704-february-2025-class-ii-iii-and-iv-milk-prices-lower-ag-proud.md) | +1.8% | -6.1% |
| MILK | 2017-04-12 | [Dairy Economic Update: 2017 milk production forecast and price cut -  \| Ag Proud](https://feedsoft.ai/events/71511-dairy-economic-update-2017-milk-production-forecast-and-price-cut-ag-proud.md) | +0.7% | +2.7% |
| MILK | 2024-01-05 | [December FMMO milk class prices lower \| Ag Proud](https://feedsoft.ai/events/5893-december-fmmo-milk-class-prices-lower-ag-proud.md) | -0.5% | +6.6% |
| MILK | 2024-10-31 | [October FMMO milk class prices dip \| Ag Proud](https://feedsoft.ai/events/4677-october-fmmo-milk-class-prices-dip-ag-proud.md) | -1.6% | -2.0% |

## Sources

- agproud.com: https://www.agproud.com/articles/57137-economic-update-february-fmmo-milk-class-prices-back-to-2021-levels

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