October 30, 2013 — The October Federal order Class III benchmark milk price was announced this afternoon by USDA at $18.22/cwt., up 8¢ from September but $2.80 below October 2012 and equates to about $1.57/gal.
That brought the 2013 Class III average to $17.82, up from $16.98 in 2012 and compares to $18.25 in 2011 and $14.36 in 2010. Class III futures settled this afternoon at $18.62 for November and $18.14 for December. That would result in a 2013 average of $17.91, up from $17.44 a year ago and compares to $18.37 in 2011.
The October Class IV price is $20.17, up 74¢ from September and $1.63 above a year ago. The 2013 average now stands at $18.66, up from $15.56 in 2012 and $19.38 in 2011.
The product averages used in calculating the announced Class milk prices were announced by the Upper Midwest Milk Market Order due to the government shutdown. The cheese price average used was $1.8025/lb., up 0.6¢ from September. Butter averaged $1.5454, up 11.9¢. Nonfat dry milk averaged $1.8366, up 2.8¢, and dry whey averaged 57.31¢/lb., down fractionally from September.
California’s comparable 4a and 4b milk prices announced by the California Department of Food and Agriculture (CDFA) on Friday.