July Milk Prices Look to be Going Up Some
Wisconsin Ag Connection - 08/02/2012
Wisconsin farmers received an average price of $17.10 per hundredweight for their milk in June 2012, down $3.50 from June 2011. But according to the USDA, the July 2012 price is expected to increase 90 cents to $18.00 per cwt.
The expected U.S. milk price for July is $16.60 per cwt., 40 cents higher than last month and $1.40 lower than Wisconsin's expected July price. All of the twenty-three major milk producing states, except Florida and Vermont, are anticipating a higher price in July compared with June. Those two states are
expected to stay unchanged.
Meanwhile, the Chicago Mercantile Exchange 40-pound block cheese price closed at $1.70 per pound on July 30, while barrels were $1.68 per pound. The CME butter price was $1.64 per pound.
For the week ending July 21, the Agricultural Marketing Service U.S. weekly 40-pound block cheese price averaged $1.64 per pound, and 500 pound barrels adjusted to 38 percent moisture averaged $1.68 per pound. The U.S. butter price was $1.54 pound.
The Agricultural Marketing Service Class III price for July was $16.68 per cwt.