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The December Federal Order Class III benchmark was announced at $13.78 per hundredweight, down 66 cents from November and the lowest since February 2018. The 2018 Class III average was $14.61, down from $16.17 in 2017.
Class IV rose to $15.09 for December, and cheese and butter prices were mixed.
Weak Class III prices and mixed component values signal continued pressure on US dairy returns, which can limit dairy herd feed purchasing. The Class IV gain points to firmer powder demand that partly offsets the cheese weakness.
farmers-exchange.netJan 11, 2019Not 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.
