June Milk Price Expected to be Slightly Higher Than May
Wisconsin Ag Connection - 07/03/2012
Wisconsin farmers received an average price of $17.00 per hundredweight for their milk in May 2012, down $1.90 from year ago levels. But the June price is expected to increase 10 cents to $17.10 per cwt.
The USDA reports that the expected U.S. milk price for June is $16.10 per cwt., 10 cents lower than last month and $1.00 lower than Wisconsin's expected June price. Only three other states are anticipating a higher price in June, as Idaho is predicting an increase of 30 cents; California is forecast to be up 19 cents; and Minnesota 10 cent higher.
Meanwhile, the Chicago Mercantile Exchange 40-pound block cheese price closed at $1.65 per pound last week, while barrels were $1.67 per pound. The CME butter price was $1.52 per pound.
For the week ending June 23, 2012, the Agricultural Marketing Service U.S. weekly 40-pound block cheese price averaged $1.62 per pound, and 500 pound barrels adjusted to 38 percent moisture averaged $1.58 per pound. The U.S. butter price was $1.39 pound.
The Agricultural Marketing Service Class III milk price for June will be released on July 5.