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The August Federal order Class III milk price was announced at $20.10 per hundredweight, down $2.42 from July and the third monthly decline after peaking at $25.21 in May. Class IV for August fell 98 cents to $24.81, and futures pointed to lower September and October Class III prices.
Falling Class III prices reduce dairy farmer income and can prompt herd and feed-buying cutbacks, which weighs on demand for dairy feed ingredients.
thefencepost.comLee MielkeSep 9, 2022After 273 past bearish report events, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% over 20.
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.
