COVID-19 is impacting the entire economy and marketplace, including the milk market. We’ll be providing weekly updates with milk futures prices and other market updates to help keep you as knowledgeable as possible during this time. View the entire list of weekly updates.
The Class III and IV milk futures prices for the next 12 months showed marginal improvement compared to the end of last week. Unfortunately, both Class III and IV markets at the end of closing on April 9, 2020 in the near months continued a downward trend and are below week ago prices. However, gains in the following months brought the average 12-month price up compared to last week. Class III price for April and May are down an additional $0.71 and $0.68 per cwt, respectively. Class IV price for April is down an additional $0.13 per cwt. Gains for the rest of the 12 months increased the average Class III price up $0.36 to $14.78 and Class IV up $0.38 to $13.01 compared to last Friday.
There has not been any additional information since late last week on any developments in how the $43.5 billion agriculture stimulus will be spent. As more information is available, it will be shared here.
The Center for Dairy Excellence hosted a Dairy Industry COVID-19 conference call on Tuesday, April 7. Nearly 400 people participated. Due to the high volume of participation, all questions were not able to be answered. A second call has been scheduled for Tuesday, April 14, 2020 from 12:30 – 1:30 p.m. to answer the remaining questions and allow for additional questions to be submitted about the impact of COVID-19 on the dairy industry. Learn more about the call, how to connect and how to submit questions.