The June Federal order Class III milk price was announced Friday at $13.62 per hundredweight (cwt.), up 24 cents from May, $3.65 above June 2009, and $1.39 above California’s comparable 4b price. The 2010 Class III average now stands at $13.58, up from $10.19 at this time a year ago, but compares to $18.26 in 2008.

Class III futures portend more gain to come. The July contract settled Thursday at $13.51, August at $14.34, and September at $14.87, with a peak of $14.85 in October before the seasonal downturn.

The Class IV price is $15.45, up 16 cents from May and $5.23 above a year ago.

The NASS-surveyed cheese price averaged $1.4475 per pound, up 2.2 cents from May. Butter averaged $1.5946, up 1 1/2 cents. Nonfat dry milk averaged $1.2631, up 1.1 cent, and dry whey averaged 36.88 cents, up fractionally.
California’s June 4b cheese milk price is $12.23, down 17 cents from May but $2.71 above a year ago. The 2010 average now stands at $12.29, compared to $9.84 a year ago. The 4a butter-powder price is $15.26, up $1.31 from May, and $5.20 above a year ago.

The cash block cheese price closed June Dairy month at $1.4550 per pound, up 4 1/2-cents on the week and 34 cents above a year ago. Barrel closed at $1.40, up a half-cent on the week, and 30 cents above a year ago. Ten cars of block traded hands on the week and three of barrel. The NASS U.S. average block price lost 3.6 cents, dipping to $1.4063. Barrel averaged $1.3885, down 0.2 cent.

Cash butter closed Friday at $1.75 up 3 cents on the week, 55 3/4-cents above a year ago, and the fifth consecutive weekly increase. Only one car was sold on the week. NASS butter averaged $1.6478, up 4.7 cents.

Cash Grade A nonfat dry milk lost 2 cents on the week, closing Friday at $1.23. Extra Grade held all week at $1.2450. NASS powder averaged $1.2159, down 9 1/2-cents, and dry whey averaged 36.34 cents, down 0.8 cent.

Provided courtesy of Dairyline.