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USDA's new skim-milk composition factors, in effect since December 2025, lifted the Class III milk benchmark by 41.6¢ to 58.5¢ per cwt in every month from January through October 2026 at constant component prices, according to a Bullvine calculation. The October 2026 class and component price announcement, released November 4, still uses the new factors.
The increase comes from a formula change rather than from better herd performance or component prices, so comparisons of Class III prices across the change overstate producer gains. For feed buyers, the milk price signal is not stronger than it appears once the factor effect is removed.
thebullvine.comAndrew HuntNov 5, 2026After 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.
