The Agriculture Department announced the October Federal Order Class III benchmark milk price at $15.53 per hundredweight, down 56 cents from September, $1.16 below October 2017, and equates to $1.34 per gallon, down from $1.38 in September and $1.44 a year ago. The 10-month average is $14.72, down from $16.18 at this time a year ago and compares to $14.42 in 2016.
October’s Class IV price is $15.01, up 20 cents from September,16 cents above a year ago, and the highest Class IV since September 2017. Its 10-month average is $14.10, down from $15.44 a year ago and compares to 13.65 in 2016.
California’s final Class 4a and 4b milk prices were announced Thursday by the California Department of Food and Agriculture as the nation’s Number 1 milk producer became part of the Federal Milk Market Order system on November 1. The October 4b cheese milk price is $15.43 per cwt., down 19 cents from September, 74 cents below a year ago, and 10 cents below the Federal order Class III price. The 10 month 4b average stands at $14.45, down from $15.33 a year ago and compares to $13.72 in 2016.
The 4a butter-powder price is $14.49, up 40 cents from September, 2 cents below a year ago, and the highest 4a since October 2017. Its 10-month average is at $13.66, down from $15.24 a year ago and compares to $13.25 in 2016. Courtesy: Mielke Market Weekly