June dairy month was not exactly kind to the industry this year; cash cheese barrels lost .25 cents while blocks slipped 3.75 cents for the month. The June Class III futures lost 30 cents, July dropped $1.15 per cwt, August fell $1.98, September tumbled $2.36 and December lost $1.34.
The June base milk price will be announced on Thursday, it is expected to be down 20 cents from the May price to average $11.40 per cwt. California producers will see their base price 13 cents lower at $10.40 per cwt tying the Golden State with Idaho and Utah for the lowest price. Wisconsin’s base price should be $11.50, down a dime from May. New York and Pennsylvania will see a 40-cent decline in their base price, Idaho, New Mexico and Washington will see their prices hold steady from a month ago.
This round of the Dairy Export Incentive Program expired on Tuesday, Daily Dairy Report says for the month; bonuses were awarded for the export of 44.1 million pounds of nonfat dry milk, 4.1 million pounds of butterfat and 335,000 pounds of cheese. Most of that will be shipped in the next couple of months.
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