Federal order January Class III, IV prices higher
January 2014 federal order Class III & IV milk prices continue to climb, with Class IV setting a new record high, according to the monthly price announcement from USDA's Ag Marketing Service.
January prices, compared to previous month and year, include:
• Class III: $21.15/cwt., up $2.20 from December 2013 and $3.01 more than January 2013. It's the highest since August 2011, and 84¢ more than the comparable California Class 4b price. The Class IIII price has increased for six consecutive months.
• Class IV: $22.29/cwt., up 75¢ from December 2013 and $4.66 more than January 2013. The Class IV price has increased for seven consecutive months.
National Dairy Products Sales Report weekly highlights
USDA’s weekly National Dairy Products Sales Report indicated Grade AA butter prices averaged $1.79/lb. for the week ending Feb. 1, up 12.3¢ from the previous week.
U.S. 40-lb. block cheddar cheese averaged $2.23/lb., up 9.1¢ from the previous week. The price for 500-lb. cheddar barrels, adjusted to 38% moisture, averaged $2.23/lb., up 8.5¢.
USDA Extra Grade dry whey averaged 61.4¢/lb., up 0.5¢. USDA Extra Grade nonfat dry milk averaged $2.06/lb., up 2.0¢ from the previous week.
California NFDM prices
The weekly nonfat dry milk powder report has been posted to the California Department of Food & Agriculture Dairy Marketing Branch website.
For the week ending Jan. 31, the average price was $2.0243/lb. on total sales of 10.97 million lbs.
For the week ending Jan. 24, the average price was $2.0085/lb. on total sales of 7.69 million lbs.
Weekly ethanol production, corn use
Ethanol production data for the week ending Jan. 31:
Ethanol production: 37.59 million gallons/day
Corn used: 13.57 million bushels/day
DIstillers grains production: 89,048 metric tons/day
Source: Renewable Fuels Association