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The USDA announced the September Federal order Class III benchmark at $16.53 per hundredweight, up 58 cents from August. Class IV rose 44 cents to $16.36, and August cheese output was 4.4% above a year earlier.
Higher Class III and IV benchmarks and futures pointing to higher October prices support milk income, while steady cheese output keeps dairy processing demand firm.
capitalpress.comLEE MIELKEFor the Capital PressOct 5, 2021After 237 past bullish report events, Milk (Class III) 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.
