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USDA announced the December Class III milk price at $18.36 per cwt, up 33 cents from November and the highest since May. The December Class IV price rose to $19.88, its highest since October 2014.
Cash cheese and butter had spiked early in January before reversing after the November Dairy Products report.
The government price release confirms strong dairy price levels that increase the value of milk-based feed ingredients. The Class IV premium over Class III signals firm powder demand.
thefencepost.comLee MielkeJan 14, 2022After 237 past bullish report events, MILK moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% 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.
