... was the old BFP.Also, since the component formulas for Class II Milk are similar to the Class IV,the addition of the Class IV provides adirect hedge for ice cream, yogurt andother perishable ... butter(butterfat), which constitutes Class IV pricing. Class III vs. Class IV10.5011.2011.9012.6013.3014.00JFMAMJJASOND($/cwt.) Class III Class IVHow is the Class III Milk price established?NASS ... entire Californiadairy industry.Traders will also be able to spread the Class III against the IV depending ontheir outlook for butter and cheese.Hedging with CME Milk Class III or Class IV...