Markets & Management

Milk prices are starting to rebound from the devastating lows we saw this summer. October’s Class I milk price was announced last week at $19.47 per hundredweight, up 57 cents from September and $2.85 above August’s low point. However, it’s still more than $3 below the Class I price a year ago. Looking ahead, CME milk futures has Class IV milk prices trending up but Class III staying flat. For the last four months, Class III milk futures prices averaged $17.71 per hundredweight, as of September 25, while Class IV milk futures prices averaged $19.65 per hundredweight. For the first six months of 2024, the CME milk futures has Class III just over $18 and Class IV close to $19.50, on average.

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