Federal order Class III & IV milk prices steadied in March, according to the monthly price announcement from USDA’s Ag Marketing Service.
March 2014 prices, compared to previous month and year, include:
• Class III: $23.33/cwt., down 2¢ from February 2014, but $6.40 more than March 2013. It’s the first month-to-month decline since June 2013. It’s $1.17 more than the comparable California Class 4b price. The 2014 Y-T-D average is $22.61/cwt., up $5.17 from the January-March 2013 average of $17.44/cwt.
• Class IV: $23.66/cwt., up 20¢ from February 2014 and $5.91 more than March 2013. The Class IV price has increased for nine consecutive months. The 2014 Y-T-D average is $23.14/cwt., up $5.43 from the January-March 2013 average of $17.71/cwt.
National Dairy Products Sales Report weekly highlights
USDA’s weekly National Dairy Products Sales Report indicated Grade AA butter prices averaged $1.90/lb. for the week ending March 29, up 4.9¢ from the previous week.
U.S. 40-lb. block cheddar cheese averaged $2.35/lb., up 8.1¢ from the previous week. The price for 500-lb. cheddar barrels, adjusted to 38% moisture, averaged $2.32/lb., up 4.1¢.
USDA Extra Grade dry whey averaged 66.7¢/lb., up 1.3¢.
USDA Extra Grade nonfat dry milk averaged $2.07/lb., down 1.3¢ from the previous week.
Weekly ethanol production, corn use
Ethanol production data for the week ending March 28:
Ethanol production: 38.7 million gallons/day, the highest weekly average of the year.
Corn used: 13.98 million bushels/day
DIstillers grains production: 91,734 metric tons/day
Source: Renewable Fuels Association
Dairy economists, policy analysts to meet
The 21st Annual National Workshop for Dairy Economists and Policy Analysts will be held May 1-2 in Milwaukee, Wis. Registration deadline is April 18.
The registration fee for the program is $380. The hotel for the workshop is the Hilton Milwaukee, Downtown, 509 West Wisconsin Avenue, Milwaukee, WI.
Source: DairyHerd