The May Federal order Class III benchmark milk price was announced at $15.18 per hundredweight (cwt.), up 71 cents from April but still 39 cents below May 2017 though it is the highest Class III price since December 2017. It equates to $1.31 per gallon, up from $1.24 in April.
The five-month Class III average stands at $14.25, down from $16.05 at this point a year ago but compares to $13.53 in 2016. The May Class IV price is $14.57, up $1.09 from April, 8 cents above a year ago, and the highest it has been since October 2017. Its five-month average is at $13.42, down from $14.92 a year ago and compares to $13.06 in 2016.
