December 23, 2022: December

November Class III and IV prices were announced earlierthis month at $21.01 and $23.30, respectively. The Class III price represents an eighty cents per cwt drop compared to October, and the  Class IV price is $1.66 per cwt less than October. With the main holiday buying season over and continued improvement in domestic and world milk supply, Class III and IV milk futures prices  continued to decline through December. Based on December 16 closing prices, both Class III and Class IV continue to decline but remain well above the five-year averages. The 12-month Class III  average is $19.95 per cwt, $1.07 less than it was at the end of November. The Class IV, 12-month average drops more drastically to $20.39 per cwt, $2.96 less than last month’s average futures  price. The five-year averages for Class III and IV are $17.66 and $16.78 per cwt, respectively. Read More