Milk prices hit hard

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If you were looking for milk-price relief, it is not here yet. The May Class III price took a heavy blow, dropping 94 cents versus April. The move puts the May price back below $10.

According to the USDA’s announcement of federal order class and component prices on June 5, the May Class III price is just $9.84 per hundredweight, which is down 46 percent versus a year ago when the price was $18.18.

The announcement was not all dire news. The Class IV price continued to advance, though it is only a notch above $10. According to the announcement, it climbed 32 cents to $10.14. That also is about 34 percent less than the May 2008 Class IV price of $15.26.

The May Class II price was announced at $10.71. That is 22 cents more than April, but still 31 percent less than a year ago when it was $15.51.

Source: USDA-Agricultural Marketing Service


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