Benchmark milk price plummets
The U.S. Federal order benchmark Class III milk price ended 2020 sharply lower and well below a year ago. The Agriculture Department announced the December Class III at $15.72 per hundredweight, down $7.62 from November, $3.65 below a year ago, and the lowest Class III price since May. That put the 2020 average at $18.16, up from $16.96 in 2019 and $14.61 in 2018. New Year’s Eve Class III futures settlements had the January contract at $15.80; February, $17.49; March, $17.51; April $17.37; May, $17.39; June, $17.25; July, $17.33; August, $17.35; September, $17.54; October, $17.30; Novemb...