November Milk Prices Expected to Rise

By CnAgri Print

The expected U.S. milk price for November is $22.10 per cwt., 60 cents higher than last month. The USDA reports that all of the 23 major milk producing states except California are anticipating an increase from October to November. California is predicted to have a three cent drop in price to $19.40 per cwt., the lowest price in the nation. Michigan and New Mexico are both expecting an increase of $1.10 per cwt., and Pennsylvania's price is expected to rise by $1.00 per cwt.

Wisconsin farmers received an average price of $23.10 per hundredweight for their milk in October 2012, up $2.70 from October 2012. And according to the USDA, the November 2012 price is expected to increase another 30 cents, to $23.40 per cwt.

The Chicago Mercantile Exchange 40-pound block cheese price closed at $1.81 per pound on November 30, while barrels were $1.75 per pound. The CME butter price was $1.63 per pound.

For the week ending November 24, the Agricultural Marketing Service U.S. weekly 40-pound block cheese price averaged $1.99 per pound, and 500 pound barrels adjusted to 38 percent moisture averaged $1.91 per pound. The U.S. butter price was $1.85 pound.

The Agricultural Marketing Service Class III price for November will be released later today.