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Average Class III milk prices for the next 12 months edged up to $14.37 per cwt, while Class IV averages fell further to $12.29. USDA planned direct payments to dairy farmers based on COVID-19 price losses, with 85% of losses covered for January to April 15 and 30% for April 16 to September 30.
Mixed moves in class prices and the planned USDA payments leave the near-term milk price outlook largely unchanged. Direct payments may support farm income without adding to milk supply.
centerfordairyexcellence.orgApr 28, 2020Not enough comparable past events yet for a historical read.
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.
