The September Federal order benchmark milk price jumped $1.14 to $16.09 per hundredweight (cwt.), 27 cents below September 2017 but the highest Class III price since November 2017. It equates to $1.38 per gallon, up from $1.29 in August but down from $1.41 a year ago.
Wednesday’s Class III futures portend an October price at $15.81, November at $16.04 and December at $15.98. The nine-month Class III average stands at $14.62, down from $16.12 a year ago and compares to $14.38 in 2016.
The September Class IV price is $14.81, up 18 cents from August but $1.05 below a year ago. Its nine-month average hit $13.95, down from $15.51 a year ago and compares to $13.65 in 2016.
Courtesy: Mielke Market Weekly
The announcement of Class and Component Prices for September 2018
Release date: October 03, 2018
Class II Price: 15.13 (per hundredweight)
Class II Butterfat Price: 2.5512 (per pound)
Advanced Class II
Skim Milk Price 1/: 6.43 (per hundredweight)
Class III Price: 16.09 (per hundredweight)
Class III Skim Milk Price: 7.45 (per hundredweight)
Class IV Price: 14.81 (per hundredweight)
Class IV Skim Milk Price: 6.12 (per hundredweight)
Butterfat Price: 2.5442 (per pound)
Nonfat Solids Price: 0.6801 (per pound)
Protein Price: 2.0029 (per pound)
Other Solids Price: 0.2098 (per pound)
Somatic Cell Adjustment Rate: 0.00083 (per 1,000 somatic cell count)
Product Price Averages:
Butter 2.2724 (per pound)
Nonfat Dry Milk 0.8548 (per pound)
Cheese 1.6533 (per pound)
Dry Whey 0.4028 (per pound)