Wisconsin farmers received an average price of $20.40 per hundredweight for their milk in May 2013, up $3.40 from May 2012, according to the USDA National Agricultural Statistics Service Agricultural Prices Report. The June 2013 price is expected to remain the same as May, at $20.40 per cwt..
The expected U.S. milk price for June is $19.70 per cwt., 70 cents lower than Wisconsin’s expected June price, and unchanged from May. Seventeen of the major milk producing states are anticipating an increase from May to June, three are expecting a decrease, and three are predicting no change in price.
California is expecting the largest decrease in price, down 43 cents to $17.90 per cwt., while Idaho is expected to be down 30 cents to $18.80. On the other hand, New York and Pennsylvania are both predicting a 40 cent increase in price, up to $20.90 and $21.40, respectively.
The Chicago Mercantile Exchange 40-pound block cheese price closed at $1.63 per pound on June 27, while barrels were $1.59 per pound. The CME butter price was $1.42 per pound.
For the week ending June 22, the Agricultural Marketing Service U.S. weekly 40-pound block cheese price averaged $1.75 per pound, and 500 pound barrels adjusted to 38 percent moisture averaged $1.79 per pound. The U.S. butter price was $1.55 per pound.
Source: Wisconsin Ag Connection