Class III milk price estimates for 2013 are down slightly in the latest World Agricultural Supply and Demand Estimates report from USDA.

According to the report, released Friday morning, Class III milk prices are expected to average $17.55 to $18.15 per hundredweight this year, compared to last month’s estimate of $17.70 to $18.40.

Yet, Class IV prices are expected higher, which offsets the decline in the Class III price enough that the expected all-milk price for 2013 is pretty much the same as previous projections.    

"The Class III price forecast is reduced from last month, relfecting weaker cheese and whey prices, while Class IV is increased due to higher (nonfat dry milk) prices," the report said. 

The expected corn price (for the marketing year that ends Aug. 31, 2013) shows a slight downward adjustment from last month. The range is now expected to be $6.75 to $7.45 per bushel, compared to last month’s expected range of $6.75 to $7.65.