The Agriculture Department announced the September Federal order Class III milk price at $18.39 per hundredweight, up $1.20 from August, but $1.43 below September 2022 and the highest Class III since April.
The nine month average stands at $17.13, down from $22.24 at this time a year ago and compares to $16.75 in 2021.
Wednesday’s Class III futures portend an October price at $16.76; November, $17.07; December, $17.40; January, $17.88; February, $18.05; and March at $18.27.
The September Class IV price is $19.09, up 18 cents from August, $5.54 below a year ago, but the highest Class IV since January. Its average stands at $18.65, down from $24.81 a year ago and compares to $15.26 in 2021. Courtesy of the Mielke Market Weekly