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June Class III milk averaged $21.04 per cwt, well above the Class I, II and IV prices, producing substantial negative producer price differentials of -$3.81 to -$7.91 per cwt across seven federal orders. The high value of Class III milk also encouraged handlers to pull milk out of the pool.
Negative PPDs and de-pooling distort the milk price received by farmers and can shift milk supply, which affects the outlook for dairy-related feed demand.
agproud.comDave NatzkeAug 7, 2020Not enough comparable past events yet for a historical read.
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.
