The Agriculture Department announced the December Federal order Class III milk price at $18.36 per hundredweight, up 33 cents from November, $2.64 above December 2020, and the highest Class III since May. That put the year’s average at $17.08, down from $18.16 in 2021 and compares to $16.96 in 2019.
Class III futures portend a January 2022 price at $20.66; February, $22.35; and March at $21.75 per cwt.
The December Class IV price is $19.88, up $1.09 from November, $6.52 above a year ago, and the highest Class IV price since October 2014. The 2021 Class IV average is $16.09, up from $13.49 in 2020, and compares to $16.30 in 2019.
Courtesy of the Mielke Market Weekly