The Agriculture Department announced the November Federal order Class III benchmark milk price at $16.88 per hundredweight, up 19 cents from October, 12 cents above November 2016, and equates to $1.45 per gallon. It ties the February price for the highest Class III price in 2017. The 11 month average stands at $16.24, up from $14.64 at this time a year ago and $15.92 in 2015.
The Class IV price is $13.99, down 86 cents from October but 23 cents above a year ago and the lowest Class IV since November 2016. It’s 11 month average stands at $15.31, up from $13.66 a year ago and $14.24 in 2015.
The four-week Cheese price used in calculating the month’s milk prices averaged $1.7617 per pound, up 3.6 cents from October. Butter averaged $2.2810, down 9.1 cents. Nonfat dry milk averaged 75.53 cents per pound, down 5.5 cents, and dry whey averaged 35.87 cents per pound, down 2 cents. Courtesy Mielke Market Weekly