Markets & Management

USDA isn’t announcing the December Class III and Class IV milk prices until Thursday of this week, but Class III went off the CME board at $16.08 per hundredweight while Class IV went off at $19.19 per cwt. If these prices hold true, that will mean the Class III milk price averaged $17.02 per cwt in 2023, while the Class IV price averaged $19.11 for the year. Based on those prices, 2023 will have closed with Class III slightly below the five-year average of $17.92 per cwt., while Class III will have closed about $1.70 above the fiveyear average of $17.40.

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