Loading…
The USDA announced the November Federal order Class III benchmark milk price at $20.45 per hundredweight, up $1.73 from October and the highest since October 2014. The Class IV price rose to $16.60, and the GDT auction ended five sessions of gains with a 0.5% dip.
A Class III reading at its highest since 2014 signals tight US milk supply relative to demand and lifts farm milk income, which supports dairy cow feed demand. The year's peak in this benchmark sets a firm backdrop for dairy margins heading into 2020.
leadertelegram.comLee MielkeDec 9, 2019After 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.
