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The December federal order Class III milk price was $20.50 per hundredweight, down 51 cents from November, and the Class IV price was $22.12. The first Global Dairy Trade auction of 2023 fell 2.8%, with butter and milk powders lower.
Futures pointed to a lower Class III price in early 2023.
Falling GDT auction prices and weaker Class III and IV futures signal lower dairy product values, reducing the support for dairy herd feed purchases.
farmersadvance.comLee MielkeJan 18, 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.
