Wisconsin Ag Connection - USDA Expects State Milk Prices to Rise in August

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USDA Expects State Milk Prices to Rise in August
Wisconsin Ag Connection - 08/29/2014

Wisconsin farmers received an average price of $23.50 per hundredweight for their milk in July 2014, according to the USDA's National Agricultural Statistics Service. And the August 2014 price is expected to rise another 60 cents to $24.10 per cwt.

Nationally, the expected U.S. milk price for August is $23.70 per cwt., 40 cents lower than Wisconsin's price, but 40 cents higher than the July U.S. price. All of the 23 major milk producing states are predicting an increase in price from July to August. Wisconsin and Iowa are expecting the largest increases, up 60 cents, while Texas is expecting the smallest increase, up only 10 cents from last month.

Meanwhile, the Chicago Mercantile Exchange 40-pound block cheese price closed at $2.32 per pound on August 28, while barrels were $2.32 per pound. The CME butter price was $2.75 per pound.

For the week ending August 23, the Agricultural Marketing Service U.S. weekly 40-pound block cheese price averaged $2.09 per pound, and 500 pound barrels adjusted to 38 percent moisture averaged $2.18 per pound. The U.S. butter price was $2.53 per pound.

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