Dairy Prices Move Higher While Milk Prices Hold Steady

USDA released its latest dairy product and milk class price forecast last week.

“Regarding product prices, we raised our cheese price forecast this month by one cent per pound, now at $1.62 per pound," World Agricultural Outlook Board Chair Mark Jekanowski.  "Butter, we raised 19 cents per pound up to $1.87 per pound. And non-fat dry milk has shown quite a bit of strength recently. We've increased that price forecast by seven cents per pound to $1.39 per pound. And for non-fat dry milk in particular, that would be up 15 cents per pound year over year.”

When it comes to class prices for milk.

“Class III price this month was unchanged as higher cheese prices offset the lower dry whey prices," Jekanowski said.  "Dry whey, by the way, we reduced 3 cents per pound this month to 66 cents per pound. Class IV price, we raised $1.45 cwt to $17.15 cwt based on that strength in both butter and non-fat dry milk prices.”

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