The Agriculture Department’s monthly benchmark milk price has reached the highest level in over a year and a half. The May Federal order Class III price was announced at $16.38 per hundredweight, up 42 cents from April, $1.20 above May 2018, and the highest Class III price since November 2017.
It equates to $1.41 per gallon, up from $1.37 in April and $1.31 a year ago. The year to date Class III average stands at $15.05, up from $14.25 a year ago and compares to $16.05 in 2017. By the way; California’s 4b cheese milk price was $14.90 in May 2018.
The May Class IV price is $16.29, up 57 cents from April, $1.72 above a year ago, and the highest it has been since August 2017. Its five month average stands at $15.81, up from $13.42 a year ago and compares to $14.92 in 2017.
Courtesy: Mielke Market Weekly