October Milk Prices Swinging Upward

By CnAgri Print

According to the USDA, the expected U.S. milk price for October is $21.10 per cwt., $1.50 higher than last month. All of the twenty-three major milk producing states are anticipating at least a $1.00 increase from September to October. Minnesota, Idaho and Wisconsin are all expecting a $1.60 per cwt. jump in price, while California's price is predicted to rise by $1.58 per cwt.

Meanwhile, the Chicago Mercantile Exchange 40-pound block cheese price closed at $2.11 per pound on October 31, while barrels were $2.00 per pound. The CME butter price was $1.89 per pound.

For the week ending October 27, the Agricultural Marketing Service U.S. weekly 40-pound block cheese price averaged $2.07 per pound, and 500 pound barrels adjusted to 38 percent moisture averaged $2.02 per pound. The U.S. butter price was $1.89 pound.

The Agricultural Marketing Service Class III price for October was released on Friday at $21.02 per cwt.