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Article: Class III milk prices expected to break $14/cwt.(An update of dairy industry news)
- Article from:
- Feedstuffs
- Article date:
- August 11, 2003
- Author:
CopyrightCOPYRIGHT 2003 Miller Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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After languishing at $9-10/cwt. for months, Class III milk prices suddenly strengthened and are expected to reach $14/cwt. by this fall. The price increase was driven by higher cash market cheese prices.
Sensing a milk shortage in California due to heat stress, cheese buyers in Chicago, Ill., bid up block cheese prices from $1.08-1.14/lb. during the first six months of the year to $1.60/lb. by the end of July.
Dairy producers are relieved that higher prices are in sight. The U.S. Department of Agriculture announced Aug. 1 that the Class III, price rose from $9.75/cwt. in June to $11.78/cwt. in July.
Dairy producers will see this $2/cwt. price ...