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The April 2024 Federal order Class III milk price was announced at $15.50 per hundredweight, down 84 cents from March and $3.02 below April 2023. The April Class IV price rose slightly to $20.11, and Class III futures pointed to higher May through July prices.
The lower Class III price reflects weaker cheese-based milk values, which reduces the return on milk used for cheese. Futures signaling a rebound toward a June peak point to firmer milk prices ahead for dairy-feed demand.
capitalpress.comLEE MIELKEFor the Capital PressMay 7, 2024After 273 past bearish report events, MILK 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.
