Class III Up 18 Cents
USDA announced January price for Class III milk is set at $13.96, up 18 cents from December 2018 and just 4 cents shy of the January 2018 price.
Class IV milk continued to trend higher than Class III, coming in at $15.48, up 39 cents from a month ago. The January 2019 price is a whopping $2.35 higher than last year.
Class IV prices continue to ride the wave of higher prices for nonfat dry milk, while Class III prices are anchored by low cheese prices. Inventories impact both product pricing mechanisms: stocks of barrel cheese are at all time highs, while powder inventories both in the U.S. and globally are down considerably.