What HappenedClass III milk futures slipped into new low-price levels for the year this past week, reflecting increasing supplies due to herd expansion. Why This Is ImportantHistorically, the milk futures market is a good example of high prices curing high prices, and low prices curing low prices. Editor’s Note: If you have any questions on this Perspective, feel free to contact Bryan Doherty at Total Farm Marketing: (800) 334-9779. Total Farm Marketing and TFM refer to Stewart-Peterson Group Inc., Stewart-Peterson Inc., and SP Risk Services LLC. SP Risk Services LLC and Stewart-Peterson Inc. are wholly owned by Stewart-Peterson Group Inc. unless otherwise noted, services referenced are services of Stewart-Peterson Group Inc.