Dairy Week In Review

USDA announced the January 2023 Class III milk price at $19.43 per cwt., down $1.07 from December  and 95 cents under year-ago levels. The Class IV price was announced at $20.01 per cwt., down $2.11  from December and $3.08 below last January. Milk futures show more erosion in the milk price, with  Class III futures for the remaining 11 months in 2023 averaging $18.90 per cwt, while Class IV futures  average $19.43 per cwt. Class III prices are expected to dip below $18 for the first three months of 2023 before increasing to over $19 for the last six months of the year. Class IV prices are more stable, expected to range between $18.76 and $19.79. Read More