Just a month after hitting a new all-time record high, the USDA announced that the June Class III milk price was released at $24.33 per hundredweight. That’s 88-cents below the May price (which peaked at $25.21), but was still $7.12 over June 2021.
So far, the Class III price has averaged $22.95 during 2022.
Meanwhile, the Class IV component price was 84-cents higher for the month at $25.83, and was $9.48 over the previous year.
Last week, Wisconsin’s all milk price for May was announced at a new all-time record high of $27.40 per cwt., which was 30-cents higher than last month’s price, and $7.60 above May 2021.
Source: Wisconsin Ag Connection