Wisconsin farmers received an average price of $20.50 per hundredweight (cwt.) for their milk in January 2013, up $1.00 from January 2012. The February 2013 price is expected to decrease 80 cents to $19.70 per cwt.
The expected U.S. milk price for February is $19.40 per cwt., 50 cents lower than last month and 30 cents lower than Wisconsin’s expected February price. All of the major milk producing states except California are anticipating a decrease from January to February. California is predicting a 10 cent increase, resulting in a price of $18.00 per cwt. On the other hand, Pennsylvania is expecting a $1.00 drop in price and New York is anticipated to be down 90 cents.
The Chicago Mercantile Exchange (CME) 40‐pound block cheese price closed at $1.5950 per pound on February 28, while barrels were $1.5700 per pound. The CME butter price was $1.5500 per pound.
For the week ending February 23, 2013, the National Agricultural Statistics Service U.S. weekly 40‐pound block cheese price averaged $1.6620 per pound, and 500 pound barrels adjusted to 38 percent moisture averaged $1.6285 per pound. The U.S. butter price was $1.5793 pound.
Source: Wisconsin Farm Bureau