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April 2023 Federal Milk Marketing Order prices were mixed, with Class III at $18.52 per cwt, up 42 cents from March, while Class IV fell 43 cents to $17.85 and Class II fell 32 cents to $19.20. Class III moved above Class IV for the first time since May 2022.
The butterfat value declined while the protein value rose.
The divergence between Class III and Class IV shifts the milk-price mix and pooling incentives, with mixed signals for dairy income and little clear direction for overall dairy feed demand.
agproud.comDave NatzkeMay 3, 2023After 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.
