Benchmark Milk Price Up 23 Cents

October 2, 2013 — The September  Federal order benchmark milk price is $18.14 per hundredweight (cwt.), up 23  cents from August but 86 cents below September 2012, and $1.49 above  California’s comparable 4b cheese milk price. The Class III price equates to  about $1.56 per gallon. That brought the 2013 Class average to $17.76, up from  $16.54 at this time a year ago, and compares to $18.28 in 2011, $14.07 in 2010,  and $10.49 in 2009. The October Class III futures price settled today at $18.09;  November, $17.86; and December at $17.18 per cwt.

The FO Class IV  price is $19.43, up 36 cents from August and $2.02 above a year ago. The 2013  Class IV average now stands at $18.49, up from 15.23 a year ago and compares to  $19.48 in 2011, $14.70 in 2010, and $10.06 in 2009.

The four-week,  AMS-surveyed cheese price used in calculating the September milk prices was  $1.7961 per pound, up 2.3 cents from August. Butter averaged $1.4263, up almost  a penny. Nonfat dry milk averaged $1.8085, up 3.8 cents, and dry whey averaged  57.91 cents, up 1.3 cents.

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