It would be nice to get a little bump upward.
But the U.S. Department of Agriculture's latest projection for the Class III milk price is neither up nor down. USDA now predicts that the Class III price will average $17.70 and $18.40 per hundredweight in 2013, which pretty much is the same as last month’s estimate of $17.65 to $18.45.
The all-milk price, meanwhile, is projected to average between $18.90 and $19.60, which is essentially the same as last month’s estimate.
The estimates were included in the "World Agricultural Supply and Demand Estimates" report released Friday morning by the U.S. Department of Agriculture.
USDA economists expect corn prices to average between $6.75 and $7.65 per bushel in the current marketing year that ends Aug. 31, down from last month’s estimated range of $6.80 to $8.00 per bushel. For soybeans, the USDA estimates prices to range from $13.55 to $15.05 per bushel, minimally higher than last month’s range of $13.50 to $15.00 per bushel.