USA: Class I base price starts new year weaker

Published 2024년 12월 19일

Tridge summary

The article reports on various developments impacting dairy producers and the dairy industry in the US and globally. It highlights a decrease in the Class I base price for milk at the start of the new year, despite remaining above the price from the previous year. The Global Dairy Trade price index also saw a drop after three increases. In positive developments, the U.S. Dairy Export Council received additional funding from the USDA to boost U.S. dairy exports. October saw a increase in fluid milk sales, with strong consumption of yogurt and butter despite high retail prices. Finally, workers at a Dairy Farmers of America subsidiary, Kemps, have voted to form a union and begin contract negotiations.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Here is a look at news affecting a dairy producer's bottom line this third week of December 2024. Class I base price starts new year weaker GDT index drops after three higher sales USDEC receives $9.7 million in RAPP funding October fluid milk sales up 1.3% from last year Vitaliano: U.S. dairy consumption strengthens amid record retail prices for butter and yogurt DFA workers in Le Mars join Teamsters Class I base price starts new year weaker The Federal Milk Marketing Order (FMMO) advanced Class I base price declined to start the new year. At $20.38 per hundredweight (cwt), the January 2025 advanced Class I base price is down $1.05 from December 2024 and the lowest since June 2024. Despite the decline, the January 2025 price is still $1.90 per cwt above January 2024. The 2024 average Class I base price was $20.35 per cwt, up $1.15 from a year earlier and the third-highest annual average in the past decade. Previous high annual averages were $23.66 per cwt in 2022 and $23.29 per ...

Source: Progressivedairy