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USDA's FMMO announcement on Dec. 31 showed the December 2025 Class I base price rebounded to $18.21/cwt, up $1.46 from November but $3.22 below December 2024.
Class II ($14.41), III ($15.86) and IV ($13.64) prices all declined from November.
Lower class prices across most uses point to smaller milk checks for producers and softer demand for dairy feed inputs, while the wide Class III-IV gap encourages depooling of higher-priced milk.
agproud.comDave NatzkeDec 31, 2025After 273 past bearish report events, Milk (Class III) 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.
The USDA December 2025 FMMO announcement on Dec. 31 showed the Class III price falling to $15.86 from November, confirming weak cheese-driven pricing and adding to selling pressure on Class III futures on the day.
