August 3, 2022: Dairy Week In Review

USDA announced the July Class III milk price at $22.52 per hundredweight, down $1.81 from last month but $6.03 above year-ago levels. Class III milk prices peaked in May and continue to  trend down for the rest of the year, with the Class III price on CME milk futures for the last five months of the year averaging $20.29 per cwt., more than $5 below the peak in May. Class III prices  took a big hit this week, with close up futures showing declines of over 50 cents. The July Class IV price was announced at $25.79 per cwt., down just 4 cents from last month and 20 cents below its peak in May. Read More