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Class III Milk

CME Class III milk futures are priced in USD and serve as the US dairy benchmark. They are based on milk used for cheese production.

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DAIRY.COMM

Foremost Farms to close Wisconsin cheese plant

US dairy cooperative Foremost Farms is closing its Marshfield cheese manufacturing site in Wisconsin in December, resulting in the loss of 68 jobs. The co-op, which represents farmers in seven states, will also discontinue production of 40lb block cheese as part of a strategic realignment to meet evolving market demands. President and CEO Brenda Dehart said the decision was based solely on changing market conditions and long-term needs of the cooperative. The closure comes despite the US dairy industry investing $13bn in new and expanded manufacturing capacity across 19 states, according to the International Dairy Foods Association, which projects the industry will process 15 billion more pounds of milk by 2030. Foremost Farms also operates other plants in Wisconsin and Michigan, and its Marshfield facility dates to the 1950s.
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