All indications are we should be seeing the lowest milk prices of the year right now. The base price for June for Class II milk $14.32 per hundredweight, down 87 cents from May and $7.05 below June of 2011. The Class III base for June is 40 cents higher than May at $15.63 per hundredweight but $3.48 below a year ago. Class IV base is $13.24 down 31 cents from May and $7.81 below last June. Component prices per pound for June production: butterfat $1.4866; protein $2.8952; nonfat solids $0.9252; other solids $0.3113.
Class III futures a running well-above the June base price with July at $16.76 on Thursday and every contract from August through January from $17.20 to $17.87.
The weekly National Dairy Products Sales Report form USDA puts the average block price for cheese was $1.63 for the week ending June 30th up 1.2 cents from the previous week. Barrels gained 4.1 cents to average $1.62 per pound. Butter increased 7.1 cents to $1.47, dry whey was down 1.1 cents to 48.7 cents per pound and nonfat dry milk slipped 1.1 cents as well to $1.10 per pound.
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