It may not feel like it – but Wisconsin dairy operations may be seeing bigger paychecks this year then they did last year – at least in October.
For the month of October, Wisconsin farmers received an average price of $18.50 per hundredweight (cwt) for their milk – that’s about $1.59 per gallon at the farm gate. According to the latest USDA, National Agricultural Statistics Service – Agricultural Prices report, that was 20 cents higher than last month’s price and $1.50 higher than last October’s price.
The U.S. milk price for October was about $1.54 per gallon or $17.90 per cwt, 60 cents lower than Wisconsin’s price but 10 cents higher than last month’s U.S. price. Ten of the 23 major milk producing states had a lower price when compared with September, 12 states had a higher price, and 1 state, Texas, was unchanged. Idaho had the largest price increase, up 80 cents to $18.10 per cwt.
The highest pay price was witnessed by Texas dairy farmers who were paid $18.80 per cwt. Michigan held the lowest milk price in the nation at $16.30 per cwt.
The Chicago Mercantile Exchange* (CME) 40‐pound block cheese price closed at $1.6000 per pound on November 30, while barrels were $1.5100 per pound. The CME butter price was $2.2125 per pound.
For the week ending November 25, 2017, the Agricultural Marketing Service* U.S. weekly 40‐pound block cheese price averaged $1.7418 per pound, and 500 pound barrels adjusted to 38 percent moisture averaged $1.7466 per pound. The U.S. butter price was $2.2753 per pound.