September 1, 2021: Dairy Week In Review

USDA announced the Class III and Class IV milk prices for August, with the basis between the two now at its closest in the past two years. The August Class III price was announced at $15.95 per  cwt., down 54 cents from July, down $3.82 from a year ago, and the second lowest Class III price of the year. The Class IV price was announced at $15.92 per cwt., just 3 cents under the Class III  price. It was down 8 cents from July but up $3.39 from a year ago. Current futures show Class III prices rebounding in September, with the price averaging $17.04 for the last four months of the  year. Futures also show Class IV rebounding in September but only averaging $16.55 for the last four months of 2021. Read More