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September 2024 Highlights. Class II Price was $22.40 per hundredweight for the month of September 2024. The price per hundredweight increased $0.35 from the previous month. Class III Price was $23.34 per hundredweight for the month of September 2024.
And when you work out the current price of milk on a per hundred weight basis — because that's how farmers are paid, per 100 pounds of milk they sell — their price should be about double that. Maybe $34, $35, so there's a huge gap between the farm price and the consumer price.
Base Skim Milk Price for Class I was $10.82 per hundredweight for the month of October 2024. The price per hundredweight increased $1.33 from the previous month.
US Milk Farm Price Received is at a current level of 23.60, up from 22.80 last month and up from 19.60 one year ago. This is a change of 3.51% from last month and 20.41% from one year ago.
August 21, 2024 — The October 2024 Base Class I Price (fluid milk) was $23.17 which was up $1.57 from last month. That price is up $3.70 from a year ago. The next update is October 2024.
Futures followed spot prices lower today, with Q4 Class III prices settling at $22.45 per hundredweight, 45 cents lower.
The Uniform Milk Price is the weighted average monthly Uniform Milk Price announced each month and represents the minimum milk price required to be paid by regulated handlers to producers pooled under the Federal Milk Marketing Order program.
This graph illustrates Class III milk prices at 3.5% test per hundredweight, with comparisons to previous years.
The Uniform Milk Price is the weighted average monthly Uniform Milk Price announced each month and represents the minimum milk price required to be paid by regulated handlers to producers pooled under the Federal Milk Marketing Order program.
Value of U.S. milk production reaches $59 billion in 2022. U.S. milk production, as measured in inflation-adjusted 2023 dollars, grew $13.0 billion (or 28 percent) to $59.2 billion in 2022, the highest level since 2014, according to data from the USDA, Economic Research Service (ERS).