The Agriculture Department announced the October Federal order Class III benchmark milk price at $21.81 per hundredweight, up $1.99 from September, $3.98 above Oct. 2021, and the highest October Class III since 2014. The ten month average stands at $22.20, up from $16.86 a year ago, $17.89 in 2020, and $16.37 in 2019.
Wednesday’s Class III future portend a November price at $20.68 and December at $19.06.
The October Class IV price is $24.96, up 33 cents from September, $7.92 above a year ago, and the highest October Class IV ever. The ten month average is at $24.82, up from $15.44 a year ago, $13.52 in 2020, and $16.23 in 2019.
Courtesy of the Mielke Market Weekly
