US: January 2024 brought more of the same for FMMO prices and pooling

Federal Milk Marketing Order (FMMO) uniform milk prices slipped lower in January, a combination of lower Class I and Class III milk class prices and continued depooling of Class IV milk. Administrators of the 11 FMMOs reported January 2024 prices and pooling data, Feb. 11-14. Here’s Progressive Dairy’s monthly review of the numbers to provide some additional transparency to your milk check. Uniform prices, PPDs Compared with December, January 2024 statistically uniform milk prices were down in all 11 FMMOs (Table 1). Largest declines were in highest Class III and lowest Class I utilization areas. The highest uniform price for the month was in Florida at $23.05 per hundredweight (cwt), with the low in the Upper Midwest at $15.59 per cwt, a seven-month low. January baseline producer price differentials (PPDs) were up slightly across all applicable FMMOs (Table 1), with a high of $4.14 per cwt in the Northeast to a low of 42 cents in the Upper Midwest. PPDs have zone differentials, ...