Will a 1ppl change in milk price affect GB average milk price?

On average, it was found that a 1ppl change in the MMV will lead to around a 0.5ppl change in the overall GB average milk price, generally three months’ later. Differences will arise due to the markets in which milk buyers operate as well as the mechanism they use to set the milk price.

Are milk prices up?

Milk prices are up. The average price for a gallon of milk is around 3.59. With all the problems with supply lines and rising car and home prices, it's the costs of basics like milk that can hit the hardest. That's why we called up Lee Mielke. That's M-I-E-L-K-E.

What is Milk Market Value (MMV)?

The Milk Market Value (MMV) is a weighted average of AMPE and MCVE on a 20:80 basis. This was found to be the best predictor of movements in farmgate prices based on historical data. The analysis was done excluding prices paid on retailer-aligned contracts.

What happened to milk prices in August & September?

Class IV milk saw August fall 13 cents to $18.81/cwt, September fell 19 to $18.91, and October plummeted 39 cents to $18.95/cwt. Dairy markets resumed their rally on Monday with Class III prices closing 40 cents stronger in the August and September months.