October’s Class III is $21.02

October 31, 2012 —

he Agriculture Department announced the October Federal order benchmark Class III milk price this afternoon at $21.02 per hundredweight, up $2.02 from September and $2.99 above October 2011. That is the highest it has been since August 2011 and equates to about $1.81 per gallon. The 2012 Class III average now stands at $16.88, down $1.37 from this time a year ago but $2.52 above 2010 and $6.16 above the disastrous 2009 average at this time.
The October Class IV price is $18.54, up $1.13 from September and 13 cents above a year ago.
The AMS-surveyed cheese price averaged $2.0479 per pound, up 18.3 cents from September. Butter averaged $1.9168, up 9 cents. Nonfat dry milk averaged $1.4636, up 8.7 cents, and dry whey averaged 62.05 cents, up 3.6 cents.

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