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Announced on Jan. 4, December 2023 FMMO Class II, III and IV milk prices all fell from November, while the Class I base price rose one cent.
Class III at $16.04/cwt was the lowest since July, and Class IV ran $3.19 above Class III.
Lower FMMO class prices shrink producer milk checks, and the wide Class III-IV spread creates Class IV depooling incentives that can affect pooled milk volumes and uniform prices.
agproud.comDave NatzkeJan 5, 2024After 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.
