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September Class III Jumps to $16.09

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)

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