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March Milk Prices Expected to Go Back Up
Wisconsin Ag Connection - 04/01/2008

Wisconsin's milk price is expected to average $19.70 per hundredweight in March--an increase of 50 cents from last month's $19.20, and a jump of $3.30 from last year. The U.S. milk price for March is forecast to average $18.30 per cwt., down 80 cents from February. The U.S. price is $1.40 below Wisconsin's price.

The USDA says 21 states expect to have a decrease in milk prices. Wisconsin and Idaho are the only states projecting an increase in price. California, the nation's largest milk producer, has the lowest expected price of $17.10 per cwt. in March, $2.60 lower than Wisconsin's price. Virginia producers are projected to receive the highest milk price in March, at $22.00 per cwt.

For the week ending March 22, the National Agricultural Statistics Service, U.S. weekly 40-pound block cheese price averaged $1.9158 per pound and 500 pound barrels adjusted to 38 percent moisture averaged $1.8915 per pound. The U.S. butter price was $1.2882 per pound. The Chicago Mercantile Exchange 40-pound block price closed at $1.8000 per pound on March 31, a 27 cent decrease from last month. Barrels ended the month at $1.76, a loss of 21 cents. The CME butter price rose 11 cents over the last month to close at $1.3600 on March 31.

The Agricultural Marketing Service Class III price for March will be released April 4.

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