Nation’s Benchmark Milk Price Slips Some More

The nation’s benchmark milk price has slipped some more. The Agriculture Department announced the January Federal order Class III price this morning at $13.48 per hundredweight (cwt.), down 35 cents from December, $1.02 below January 2010, and 99 cents above California’s comparable 4b cheese milk price. It equates to about $1.16 per gallon. Thursday’s Class III futures portend a February Class III price of $16.63, March $18.37, and April $18.08.

The Class IV price is $16.42, up $1.39 from December and $2.57 above a year ago.

The four-week, NASS-surveyed cheese price averaged $1.4076 per pound, down 5.3 cents from December. Butter averaged $1.8428, up 18.9 cents. Nonfat dry milk averaged $1.2530, up 6.8 cents, and dry whey averaged 39.35 cents, up 1.5 cents.