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The USDA set the June Federal order Class III benchmark milk price at $15.21 per hundredweight, up 3 cents from May but $1.23 below June 2017. Futures settlements point to higher Class III prices through the rest of 2018, while the California Class 4b price was $14.43.
The benchmark is the core dairy pricing formula input, and the article notes that tariff-disrupted export markets are expected to weigh on coming months' prices.
thefencepost.comLee MielkeJul 13, 2018After 136 past neutral report events, Milk (Class III) moved a median -0.1% over 5 sessions (43% higher; middle half -0.7% to +0.5%), and -0.3% 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.
