The August Federal order Class III benchmark milk price was announced by the USDA at $16.57 per hundredweight, up $1.12 from July but is 34 cents below August 2016. It is the highest Class III price since February 2017 and equates to about $1.42 per gallon, up from
$1.33 in July and compares to $1.45 a year ago.
The eight month Class III average stands at $16.09, up from $14.13 at this time a year ago, $16.07 in 2015, and $22.49 in 2014.
The August Class IV price is $16.61, up a penny from July and $1.96 above a year ago and the highest Class IV price since November 2015 The Class IV average is at $15.46, up from $13.57 a year ago and $13.53 in 2015.
Courtesy: Mielke Market Weekly
