Milk prices creep upward
MADISON - Wisconsin farmers received an average price of $17.90 per hundredweight (cwt) for their milk in June 2017 according to the latest USDA, National Agricultural Statistics Service – Agricultural Prices report.
This was 50 cents higher than last month’s price and $3.00 higher than last June’s price.
The U.S. milk price for June was $17.30 per cwt, 60 cents lower than Wisconsin’s price but 60 cents higher than last month’s U.S. price.
A bump in price wasn't unique to the Badger state as all of the 23 major milk producing states except Idaho had an increase in price from May to June. Idaho’s price fell 20 cents to $16.70 per cwt.
The Chicago Mercantile Exchange* (CME) 40‐pound block cheese price closed at $1.7550 per pound on July 31, while barrels were $1.5450 per pound. The CME butter price was $2.6900 per pound.
For the week ending July 22, 2017, the Agricultural Marketing Service* U.S. weekly 40‐pound block cheese price averaged $1.5881 per pound, and 500 pound barrels adjusted to 38 percent moisture averaged $1.4493 per pound. The U.S. butter price was $2.5862 per pound.