The Agriculture Department announced the February Federal order Class III benchmark milk price at $13.89 per hundredweight, down 7 cents from January but 49 cents above February 2018 and the first month that The Class III price topped the previous year’s price since November 2017. It equates to $1.19 per gallon, down from $1.20 in January and compares to $1.15 a year ago.
The February Class IV price is $15.86, up 38 cents from January, $2.99 above a year ago, and the highest Class IV price since August 2017.
The four week average cheese price used in calculating the month’s Class prices was $1.3940 per pound, up 0.7 cents from January. Butter averaged $2.2644, up 3 cents. Nonfat dry milk averaged 98 cents per pound, up 2.9 cents, and dry whey averaged 45.45 cents per pound, down 2.6 cents from January. Courtesy: Mielke Market Weekly