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USDA set the February Federal order Class III benchmark at $16.88 per hundredweight, up 11 cents from January and the highest February price since 2014. The Class IV price was $15.59 and the cheese average was $1.6871 per pound.
A higher Class III benchmark lifts milk value and farm margins, which can support dairy cow numbers and demand for dairy-based feed.
thefencepost.comLee MielkeMar 10, 2017After 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.
