Farm milk prices keep heading higher, but they need to. The Agriculture Department announced the March Federal order Class III benchmark price at $22.45 per hundredweight, up $1.54 from February, $6.30 above March 2021, and the highest Class III since Nov. 2020. The three month average stands at $21.25, up from $15.98 at this time a year ago and $16.77 in 2020.
The March Class IV price is a record high $24.82, up 82 cents from February, the previous high, and $10.64 above a year ago. The three month average is at $23.97, up from $13.71 a year ago and $15.91 in 2020. Courtesy of the Mielke Market Weekly.
