Milk prices tacked on some nice gains during July, despite a downturn in cheese prices during the last half of July.
The Class III price climbed to $14.35 — a 43-cent gain from June, according to the USDA’s announcement of class prices on Aug. 5. That price also is 50 cents less than the July 2004 Class III price.
The Class II price and Class IV price also tacked on admirable gains during July. The Class II price advanced 73 cents —to $13.79. The Class IV price was announced at $13.17 — an increase of 84 cents. One year ago, the Class IV price was $13.31.
Average block and barrel prices at the Chicago Mercantile Exchange ended the month of July in the mid-$1.40’s. The average block price for the week ending July 29 was $1.45 per pound. The weekly average barrel price was $1.428.
Cheese prices continued to stay low during the first week of August. On August 4, blocks and barrels settled at $1.40 and $1.34 per pound, respectively.