Discover the latest USDA milk price increases for May. How will the rise in Class III, IV, and II prices impact your dairy business? Find out more.
| Class | Price (May) | Change from April |
|---|---|---|
| Class III | $18.55/cwt. | + $3.05 |
| Class IV | $20.50/cwt. | + $0.39 |
| Class II | $21.50/cwt. | + $0.27 |
This afternoon, the USDA announced the latest Class and Component Prices for May milk. You’ll be pleased to know that the Class III price is up $3.05 from April, now standing at $18.55 per hundredweight (cwt.). The Class IV price also saw a modest increase of $0.39, reaching $20.50, while the Class II price climbed $0.27 to $21.50.
The butterfat price picked up 13 cents to settle at $3.4636 per pound. Protein gained 90 cents, now at $1.7349, while other solids lost nearly 2 cents, dropping to $0.2181.
The Dairy Products Report for April also provided some intriguing data:
- Butter production totaled 208 million pounds, which is an increase of 5.3% over April 2023 but down 1.3% from March 2024.
- Total cheese production reached 1.19 billion pounds, up 1.8% from April 2023 but 3% below March 2024.
- Nonfat dry milk production declined by 12.7%, totaling 173 million pounds.
- Skim milk powder fell significantly by 20.8%, ending at 36.3 million pounds.
(T1, D1)
