January 30, 2013 — The January Federal order (FO) Class III milk price begins 2013 on a down note although it’s the highest January price in five years. The Agriculture Department announced the benchmark price at $18.14 per hundredweight (cwt.), down 52 cents from December but $1.09 above January 2012, and equates to about $1.56 per gallon.
The January FO Class IV price is $17.63, down 20 cents from December and $1.07 above a year ago.
The four-week, AMS-surveyed cheese price used in calculating the FO prices averaged $1.7485 per pound, down 4.4 cents from December. Butter averaged $1.5066, down 9.2 cents. Nonfat dry milk averaged $1.5601, up 2.2 cents, and dry whey averaged 65.03 cents, down 1.1 cents.
California’s comparable 4a and 4b prices will be announced by the California Department of Food and Agriculture on Friday.
Courtesy of Mielke Market Weekly