# By the Numbers: November Class III futures top $19.85; Class I base moves above $18 - Progressive Dairy | Ag Proud

> CME November 2019 Class III milk futures settled at $20.21 per cwt on Oct. 30, with December at $19.48, after reaching new contract highs. USDA set the November Class I base price at $18.14 per cwt, the first time above that level since January 2015.

- Date: 2019-10-30 · published 2019-10-30T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/4104-by-the-numbers-november-class-iii-futures-top-19-85-class-i-base-moves-above-18
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Higher Class III and Class I prices signal stronger farm-gate milk revenue into late 2019, supporting dairy producers' demand for feed and improving their ability to pay for rations.

## Read by commodity

- MILK: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2019-11-05 | 5 | +8.7% | 3.4 | November Class III futures set new contract highs above $20 on Oct. 30, directly reflecting the price move in the window. |
| MILK | 2019-11-04 | 5 | +8.1% | 3.8 | November Class III futures set new contract highs above $20 on Oct 30, reflecting the price surge within the 5-day window. |
| MILK | 2019-10-29 | 1 | +8.2% | 23.0 | November Class III futures set new contract highs and the Class I base rose, confirming the bullish momentum, though it was published on Oct 30, after the move window. |
| MILK | 2019-10-30 | 1 | +8.2% | 21.7 | Oct. 30 settlement of November Class III at new contract highs coincides with the move date and reflects the surge in futures, though it is partly a description of the move itself. |

## Sources

- agproud.com: https://www.agproud.com/articles/37279-by-the-numbers-november-class-iii-futures-top-19-85-class-i-base-moves-above-18

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