USDA Releases Official January Milk Prices
Late Wednesday afternoon the USDA came forward with their official announcements of Class and component prices for January of 2017. Recall that there are four classes of milk as recognized by USDA. This report pertains to three of them: Class II, Class II and Class IV milk.
In Class II milk the official January price was announced at $16.36 per CWT. In Class III milk that price was $16.77 per CWT. Class IV prices were officially announced at $16.19 per CWT. Looking deeper those markets were built off of product price averages which are then used to determine the value of milk solids whose values are then plugged into a formula that gives a value for milk.
In butter that average price was announced at $2.2568. Nonfat Dry Milk was announced at an average price of $1.0229 per lb. Cheese came in at $1.7011 per lb. Dry whey was announced at 44.21 cents per lb.
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