The August Federal order Class III milk price was announced at $17.19 per hundredweight, up $3.42 from July but $2.91 below August 2022.
It is the highest Class III price since April. The eight-month average stands at $16.98, down from $22.54 a year ago, and $16.78 in 2021.
Friday’s Class III futures settlements portend a September price at $18.61; October, $18.92; November, $18.59; December, $18.44; January 2024, $18.41; February, $18.48; and March at $18.48 per cwt.
The August Class IV price is $18.91, up 65 cents from July but $5.90 below a year ago, and the highest Class IV price since January. Its eight-month average is at $18.59, down from $24.83 a year ago and compares to $15.12 in 2021.
Damián Morais
September 6, 2023
edairynews.com
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