Prices for class III milk, mainly used to make cheddar cheese, fell to 24.5 USD/CWT, the lowest in four weeks after reaching a record-high at above the 25 level earlier in the month amid expectations that milk supplies would increase and after dairy product prices fell for a fifth consecutive time at the Global Dairy Trade auction. Prices remain more than 30% higher this year amid increased pressure from higher fertilizer, fuel, and animal feed costs coupled with recovering demand from the pandemic-induced blow. Historically, Milk reached an all time high of 25.20 in May of 2022. Class III milk represents cow’s milk used mainly to make cheddar cheese. One contract contains 200,000 lbs of class III milk. The Milk prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.

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