Wisconsin farmers received an average price of $17.90 per hundredweight for their milk in September 2010, up $4.40 from the same time a year ago. And according to the USDA, the October 2010 price is expected to increase another 70 cents to $18.60 per cwt.
The expected U.S. milk price for October is $18.30 per cwt., 60 cents higher than last month, but 30 cents lower than Wisconsin's price. All of the major milk producing states are predicting an increase from September to October. California's forecast is showing the smallest increase at $16.50 per cwt. Michigan, New Mexico and Pennsylvania are all expecting increase of 90 cents per cwt.
Meanwhile, the Chicago Mercantile Exchange 40-pound block cheese price closed at $1.64 per pound on October 29, while barrels were $1.66 per pound. The CME butter price was $2.18 per pound.
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