June 3, 2004

US State Milk Price To Break Another All-Time Record

US Wisconsin farmers were told on Tuesday that their May milk price is expected to increase to a record $21.50 per hundredweight--up $1.10 from April's price, which was also a record. The state's agriculture department says dairy producers were paid $11.20 per cwt. in May 2003.

The May U.S. milk price is $20.30 per cwt, up $2.10 from the previous month. In April, the U. S. fluid grade milk price was $18.20 per cwt. while the manufacturing grade milk price averaged $1.20 higher at $19.40. Florida producers will receive $23.70, a jump of $6.00 from April. Minnesota expects to have the third highest price nationally at $21.70 while Wisconsin comes in at fourth highest.

Meanwhile, cheese prices have decreased recently but seem to be leveling off on the Chicago Mercantile Exchange. For the last week in May, the weekly average for 40-pound blocks was $1.80 and for 500-pound barrels was $1.77, both steady for the week. In contrast, the averages for the last week of April were $2.18 for 40-pound blocks and $2.1475 for 500-pound barrels, both declined during the week.