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Federal Milk Marketing Order Class II, III and IV prices for February 2025 all fell from January. The Class IV price reached a 12-month low, and the gap between Class III and Class IV narrowed to 28 cents.
Lower class prices reduce producer milk checks and shrink the incentive to depool milk, which affects regional blend prices.
After 273 past bearish report events, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% 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.