News

Class III base hits $23.35

The February base milk prices came in with Class II at $23.73 per hundredweight up $1.52 from January and $5.24 above February of 2013. The Class III base price for February milk is $23.35 up $2.20 from January and $6.10 above a year ago. Class IV base is $23.46 up $1.17 for the month and up $5.71 from a year ago. Component prices by the pound: butterfat $2.0179; protein $4.6044; nonfat solids $1.8914; other solids $0.4453.

That dime spread between barrels and blocks was short-lived! A couple of unfilled bids on the Chicago Mercantile Exchange on Wednesday pushed cash cheese blocks a penny higher to $2.2375 while barrels jumped 11.5 cents to $2.2425 per pound. Class III futures responded accordingly with March gaining 11 cents to $22.23, April added 34 cents to $20.60 and May increased 29 cents to $19.90 per hundredweight.