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Key Takeaway
- U.S. Class III milk prices are influenced primarily by the value of cheese and whey products, milk production, processing demand, and dairy product inventories. Changes in dairy herd size, feed costs, forage availability, milk yields, and seasonal production patterns affect the volume of milk supplied to processors. Domestic cheese consumption, food-service demand, export sales, and international competition influence dairy product values.
- Changes in manufacturing capacity, cold storage inventories, and the relative prices of butter, non-fat dry milk, and other dairy products can also affect market sentiment. Since Class III pricing is closely linked to milk used in cheese manufacturing, shifts in cheese demand and wholesale cheese prices are particularly important indicators.
About This Dataset
This dataset tracks the U.S. Class III milk price, formerly known as the Basic Formula price, quoted in US dollars per hundredweight (cwt). It supports monitoring of milk-market pricing and analysis of dairy-sector conditions, including cheese and whey market values, milk production, processing demand, feed costs, and seasonal supply patterns.
Methodology
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