The Class III milk price has been surging for the past month. On April 15, the price was $16.53 per cwt. Four weeks later, on May 13, the price closed at $21.36. That’s an increase of $4.83 in just four weeks.
Ben Buckner, chief grains and dairy analyst for AgResource Co., says he is not surprised by the meteoric rise in the Class III milk price.
“We could all see this coming — this collision between negative production growth of milk and the swift recovery of cheese demand in the U.S.,” Buckner said during a recent Professional Dairy Producers Dairy Signal webinar.
By: Fran O'Leary
May 20, 2024
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