# July milk prices should be the bottom | Ag Proud

> 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.

- Date: 2023-08-03 · published 2023-08-03T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/4051-july-milk-prices-should-be-the-bottom-ag-proud
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

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.

## Read by commodity

- MILK: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2023-08-01 | 1 | +26.6% | 30.3 | 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. |

## Sources

- agproud.com: https://www.agproud.com/articles/58087-july-milk-prices-should-be-the-bottom

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