Milk price estimates for 2013 were changed little in the USDA’s latest “World Agricultural Supply and Demand Estimates” report.
The report, released on Wednesday, showed that Class III milk prices are expected to average $17.80 to $18.20 per hundredweight this year, compared to last month’s estimate of $17.80 to $18.30. The all-milk price is expected to average $19.60 to $20 per hundredweight -- about the same as predicted last month.
The expected corn price shows a small uptick from last month. The range is now projected to be $4.40 to $5.20 per bushel in the marketing year that begins Sept. 1. For the current market year, the corn price is expected to average $6.75 to $7.15.