The Wisconsin all milk price for February 2020 was $19.10 per hundredweight (cwt) or about $1.64 per gallon, according to the latest USDA, National Agricultural Statistics Service – Agricultural Prices report. This was 30 cents lower than last month’s price but $2.80 higher than last February’s price. BUT – that was before covid-19 changed all dairy dynamics.
The U.S. all milk price for February was $18.90 per cwt, 20 cents lower than Wisconsin’s price and 70 cents lower than last month’s U.S. price. All of the 24 major milk producing states had a lower price when compared with January. Wisconsin had the smallest decrease, down 30 cents, while Florida had the largest decrease, down $1.70 from January.
The Chicago Mercantile Exchange* (CME) 40‐pound block cheese price closed at $1.3300 per pound on March 31, while barrels were $1.2050 per pound. The CME butter price was $1.3350 per pound. This signals an abrupt change in what Wisconsin dairy farms can expect to be paid today.
For the week ending March 21, 2020, the Agricultural Marketing Service* U.S. weekly 40‐pound block cheese price averaged $1.7745 per pound, and 500 pound barrels adjusted to 38 percent moisture averaged $1.5552 per pound. The U.S. butter price was $1.7351 per pound.
Interestingly enough, Iowa had the highest milk price of the 23 major dairy producing states at $19.90 per cwt., or about $1.71 per gallon.