The Class III milk price reversed course, tumbling $1 to $13.35 for November, according to USDA’s announcement of class prices on Dec. 2. That’s also $1.54 less than the November 2004 price of $14.89, and the lowest price in 21 months.
The Class II price and Class IV price also posted losses. The Class II price fell 76 cents to $13.49. The Class IV price declined 71 cents, which put it at $12.90 for November. One year ago, the Class II and IV prices were $14.09 and $13.34, respectively.
A look at the cheese market revealed a slight increase in cheese prices as the month of December began. At the Chicago Mercantile Exchange, the weekly average block price for the week ending Dec. 2 was $1.4090 per pound compared to $1.3758 for the week ending Nov. 25. The weekly average barrel price for the week ending Dec. 2 was $1.379 compared to $1.3467 for the week ending Nov. 25.
A glance back at November showed the monthly average block price at the CME was $1.3756 per pound. That, however, is still about 7 cents less than October’s monthly average block price. The monthly average barrel price for November came in at $1.3341. That’s about 6 cents less than the monthly average for October.
The monthly average butter price at the CME was $1.426 per pound for November. That’s about 19 cents less than October’s monthly average. The weekly average butter price stood at $1.39 on Dec. 2.