Class III prices continued yesterday's limit moves, opening red and trading as much as 30 cents lower in nearby months.

After the three-day weekend, spot cheese prices reacted with a series of offers that pushed the entire Class III forward curve downward.

The all milk price forecast for this year is being raised this month by 20-cents per hundredweight, to $18.50 per cwt. And for next year, the price is raised by 55 cents to $18.40 per cwt.

Milk futures saw a solid start to 2020. As futures rose to $20/cwt, optimism about pricing opportunities in 2020 sprouted. However, COVID-19 caused prices to change course, with milk futures ...