Wisconsin Ag Connection - Will May All Milk Price Bottom Out at $13.60?

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Will May All Milk Price Bottom Out at $13.60?
Wisconsin Ag Connection - 07/01/2020

The Wisconsin all milk price for May was $13.60 per hundredweight. According to the latest USDA Agricultural Prices report, that was 40-cents below the previous month and $4.60 lower than last May's price.

The U.S. all milk price was $13.60 per cwt.--the same as Wisconsin's price, but 80-cents lower than last month. All of the 24 major milk producing states except Iowa and Minnesota had a lower price when compared with April.

Meanwhile, the Chicago Mercantile Exchange 40-pound block cheese price closed at $2.64 per pound on June 30, while barrels were $2.40 per pound. The CME butter price was $1.76 per pound.

For the week ending June 20, the Agricultural Marketing Service U.S. weekly 40-pound block cheese price averaged $2.42 per pound, and 500 pound barrels adjusted to 38 percent moisture averaged $2.28 per pound. The U.S. butter price was $1.84 per pound.

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