The nation’s October benchmark Class III milk price climbed to $16.69 per hundredweight, up 33 cents from September and $1.87 above October 2016. It is the highest Class III since February 2017 and equates to about $1.44 per gallon, up from $1.41 in September and compares to $1.27 a year ago. The 10 month Class III average is at $16.19, up from $14.42 at this time a year ago and compares to $15.98 in 2015.
The October Class IV price is $14.85, down $1.01 from September but $1.19 above a year ago, and the lowest Class IV since May 2017. Its average stands at $15.44, up from $13.65 a year ago and $13.97 in 2015.
California’s October Class 4b cheese-milk price is $16.17 per cwt., up $1.29 from September, $1.74 above a year ago and cents below the comparable Federal order Class III price. Its 10-month average stands at $15.33, up from $13.72 a year ago and $14.63 in 2015.
The Class 4a butter-powder price is $14.51, down 18 cents from September, $1.40 above a year ago, but the lowest 4a price since May 2017. The 4a average now stands at $15.24, up from $13.25 in 2016 and $13.81 in 2015.
The four-week USDA-surveyed cheese price used to determine the month’s Class prices averaged $1.7254 per pound, up 6.5 cents from September. Butter averaged $2.3718, down 15.8 cents. Nonfat dry milk averaged 80.99 cents per pound, down 4 cents, and dry whey averaged 37.90 cents per pound, down 3.8 cents from September. Courtesy of The Mielke Market Weekly
Announcement of Class and Component Prices for October 2017
Release date: November 01, 2017
Class II Price: 15.95 (per hundredweight)
Class II Butterfat Price: 2.6716 (per pound)
Advanced Class II
Skim Milk Price 1/: 6.84 (per hundredweight)
Class III Price: 16.69 (per hundredweight)
Class III Skim Milk Price: 7.63 (per hundredweight)
Class IV Price: 14.85 (per hundredweight)
Class IV Skim Milk Price: 5.72 (per hundredweight)
Butterfat Price: 2.6646 (per pound)
Nonfat Solids Price: 0.6357 (per pound)
Protein Price: 2.1084 (per pound)
Other Solids Price: 0.1853 (per pound)
Somatic Cell Adjustment Rate: 0.00086 (per 1,000 somatic cell count)
Product Price Averages:
Butter 2.3718 (per pound)
Nonfat Dry Milk 0.8099 (per pound)
Cheese 1.7254 (per pound)
Dry Whey 0.3790 (per pound)