Loading…
July 2023 Class III milk price fell $1.14 from June to $13.77 per cwt, the lowest since May 2020, while Class II and Class IV held near June levels. The July Class IV price exceeded Class III by $4.49, the widest spread since September, which keeps incentives for Class IV depooling heavy.
Weak protein and Class III prices are cutting farm milk checks, and the wide Class III-IV spread signals continued pressure on component-based milk returns for feed buyers. Analysts expect August prices to begin improving.
agproud.comDave NatzkeAug 3, 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.
The July Class III announcement of $13.77/cwt, a low since May 2020, with a record Class IV spread, sits near the move date; the contract roll or reference-price shift from this print could help explain the sharp jump in the series.
