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The November Class III benchmark was $21.01 per hundredweight, down 80 cents from October. The Class IV price fell $1.66 to $23.30, its lowest since January.
Cheese output rose to 1.167 billion pounds, with cheddar and mozzarella leading gains.
Rising cheese output and falling benchmark prices show that extra milk supply is being absorbed by cheese production, which weighs on milk values.
capitalpress.comLEE MIELKEFor the Capital PressDec 6, 2022Not 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.
