Happy June Dairy Month, consumers. Know, however, that it is not a happy month for dairy farmers.
Happy June Dairy Month, consumers. Know, however, that it is not a happy month for dairy farmers.
The Agriculture Department announced the May Federal order Class III benchmark milk price at $16.11 per hundredweight, down $2.41 from April, $9.10 below May 2022, and the lowest Class III price since August 2021.
The five-month Class III average stands at $17.99, down from $22.67 at this time a year ago, but compares to $16.94 in 2021. Bottom line is, very few, if any, dairy farmers can make milk at current prices.
Monday’s Class III futures settlements portend a June price at $15.19; July, $15.97; and August at $16.87, with a peak at only $18.55 in November.
Damián Morais
June 7, 2023
edairynews.com
