The USDA says producers were paid an average price of $26.60 per hundredweight that month. That sets a new record for the highest monthly price received by Wisconsin farmers.
However, the October 2014 price is expected to fall 40-cents to $26.20 per cwt., the USDA reports. The expected U.S. milk price for October is $25.30 per cwt, 90-cents lower than Wisconsin’s price and 40-cents lower than the September U.S. price. Ten of the 23 major milk producing states are expecting a decrease in price from September to October, six are predicting an increase, and seven are expecting no change in price. California is anticipating a sharp decrease in price, down 92-cents to $22.40 per cwt.
The Chicago Mercantile Exchange 40-pound block cheese price closed at $2.14 per pound on October 31, while barrels were $2.11 per pound. The CME butter price was $1.89 per pound.
For the week ending October 25, the Agricultural Marketing Service U.S. weekly 40-pound block cheese price averaged $2.22 per pound, and 500 pound barrels adjusted to 38 percent moisture averaged $2.17 per pound.
The U.S. butter price was $2.1995 per pound.
Source: Wisconsin Ag Conection