November Class IV Federal Order Price Outpaces Class III, Exceeds $15
On Wednesday, USDA announced the federal order prices for November. Milk markets have been struggling for months and despite low product prices around the world, they haven’t been able to rally much. The trade war with China still seems to be dragging the market down despite the recent truce between Presidents Trump and Xi.
For November, Class IV Federal Order prices broke the $15 mark for the second month in a row, but Class III fell into the $14 range.
- Class I saw month-over-month decline of $0.81 to $15.52.
- Class II gained 9 cents month over month to $15.63.
- Class III saw the steepest month-over-month decline losing $1.09 since October to land at $14.44.
- Class IV exceeded Class III and gained ground month over month and year over year ending $1.07 higher than November 2017 at $15.06.