Class III milk prices continued to inch up in October posting a 5-cent gain over the September Class III price.

According to USDA’s announcement of class prices released on Nov. 4, the October Class III stands at $14.35. That’s 19 cents above the October price last year.

In contrast, the Class II price and Class IV price both posted small losses. The Class II price declined 10 cents to $14.35. The Class IV price lost 14 cents to come in at $13.61. One year ago, the Class II and IV prices stood at $13.57 and $12.81, respectively.

At the Chicago Mercantile Exchange cheese prices have been trending downward. The weekly average block price for the week ending Oct. 28 was $1.45. And the weekly average barrel price stood at $1.397.

At the close of the cash cheese market on Nov. 3, blocks stood at $1.365 and barrels were at $1.31.

Although the average Class III price for 2005 is expected to be lower than last year’s average of $15.39, it is still poised to be one of the highest ever – at or near $14.

USDA; CME