# Economic Update: March 2024 Class I base price improves | Ag Proud

> USDA's FMMO advanced Class I base price for March 2024 rose 81 cents to $18.80 per cwt. Class I prices for February averaged about $21.62 per cwt across all orders, and the Class III and IV skim milk pricing factors remained wide.

- Date: 2024-02-26 · published 2024-02-26T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/5465-economic-update-march-2024-class-i-base-price-improves-ag-proud
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

A higher Class I base lifts fluid milk prices and farm revenue, and the wide skim spread keeps Class IV milk demand and depooling incentives strong.

## Read by commodity

- MILK: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2023-08-28 | [Economic update: September 2023 Class I base price rebounds \| Ag Proud](https://feedsoft.ai/events/34744-economic-update-september-2023-class-i-base-price-rebounds-ag-proud.md) | +8.1% | +7.0% |
| MILK | 2022-03-08 | [Economic Update: February Class III-IV milk prices higher \| Ag Proud](https://feedsoft.ai/events/42420-economic-update-february-class-iii-iv-milk-prices-higher-ag-proud.md) | -0.9% | +4.2% |
| MILK | 2022-06-10 | [Economic Update: USDA cuts 2022-23 milk production forecasts, raises price projections \| Ag Proud](https://feedsoft.ai/events/41104-economic-update-usda-cuts-2022-23-milk-production-forecasts-raises-price.md) | -0.5% | -6.9% |
| MILK | 2017-01-04 | [Milk price and margin hits 12-month high – Dairy Economic Update January 2017 -  \| Ag Proud](https://feedsoft.ai/events/73028-milk-price-and-margin-hits-12-month-high-dairy-economic-update-january-2017-ag.md) | -4.0% | -3.6% |
| MILK | 2020-07-10 | [Economic Update: USDA cuts milk production forecast for 2020, with price outlook improved - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/52125-economic-update-usda-cuts-milk-production-forecast-for-2020-with-price-outlook.md) | +0.2% | -18.0% |

## Sources

- agproud.com: https://www.agproud.com/articles/59208-economic-update-march-2024-class-i-base-price-improves

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