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USDA announced the April Federal order Class III milk price at $14.47 per cwt, up 25 cents from March but 75 cents below April 2017. Class IV rose to $13.48 and California's Class 4b price was $14.27.
Class III futures pointed to a May price near $15.11 and higher prices through the summer.
Higher Class III and IV prices improve dairy margins and may support herd sizes and dairy feed demand. Futures curve strength points to firmer milk prices into the summer.
thefencepost.comLee MielkeMay 11, 2018After 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.
