December Federal Order Class I is $21.39

November 21, 2012 — The December Federal order Class I base milk price was announced this afternoon by USDA at $21.39 per hundredweight, up 69 cents from November, $2.92 above December  2011, the highest it’s been since November 2007, and equates to about $1.84 per gallon. That put the 2012 Class I average at $17.46, down from $19.13 in 2011 and compares to $15.35 in 2010 and $11.48 in 2009. The Class IV  advanced pricing factor remained the “higher of” in driving the Class I value.

Courtesy Mielke Market Weekly

 

The AMS-surveyed butter price averaged $1.8860 per pound, down 3.4  cents from November. Nonfat dry milk averaged $1.5112, up 6.1 cents. Cheese  averaged $2.0717, up 5.3 cents, and dry whey averaged 64.5 cents, up 3.2 cents  from November.

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