Class IV Higher Than Class III In July
On Wednesday, USDA announced the federal order prices for July. Milk markets have been feeling the impact of tariffs as evidenced by the steep decline in Class III prices in July. In a rare occurrence, the federal order price for Class IV exceeded the Class III price.
- Class I saw the only month over month increase with an $0.11 gain to $15.36.
- Class II was down $0.28 month over month to $15.20.
- Class III saw the steepest month over month decline losing $1.11 since June to land at $14.10.
- Class IV exceeded Class III but lost the most ground year over year ending $2.46 lower than July 2017 at $14.14.