Wisconsin farmers received an average price of $23.10 per hundredweight for their milk in October 2012, up $2.70 from October 2012. The November 2012 price is expected to increase 30 cents, to $23.40 per hundredweight.
The expected U.S. milk price for November is $22.10 per hundredweight, 60 cents higher than last month but $1.30 lower than Wisconsin’s expected November price. All of the 23 major milk producing states except California are anticipating an increase from October to November. California is predicted to have a 3-cent drop in price to $19.40 per hundredweight, the lowest price in the nation. On the other hand, Michigan and New Mexico are both expecting an increase of $1.10 per hundredweight, and Pennsylvania’s price is expected to rise by $1.00 per hundredweight.
The Chicago Mercantile Exchange (CME) 40-pound block cheese price closed at $1.8120 per pound on Nov. 30, while barrels were $1.7515 per pound. The CME butter price was $1.6375 per pound.
For the week ending Nov. 24, 2012, the Agricultural Marketing Service U.S. weekly 40-pound block cheese price averaged $1.9934 per pound, and 500 pound barrels adjusted to 38 percent moisture averaged $1.9160 per pound. The U.S. butter price was $1.8550 pound.