Class III milk prices projected even higher for 2013

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Tuesday morning, the U.S. Department of Agriculture projected that the Class III milk price in 2013 will average between $18 and $18.80 per hundredweight ― up from last month’s estimate of $17.85 to $18.75.

However, the all-milk price estimate for 2013 is basically the same ― $19.15 to $19.95 per hundredweight, compared to last month’s estimate of $19.10 to $20.

Next year's estimated all-milk price is up from what appears to be a final range of $18.50 to $18.60 for 2012. 

Another bit of good news: The USDA has revised the corn price downward, albeit slightly. Economists now predict the corn price will average between $6.80 and $8 per bushel in the current crop year, compared to last month's estimate of $6.95 to $8.25.

The USDA also lowered its projected soybean price to $13.55 to $15.55 per bushel. Last month, the USDA projected a range of $13.90 to $15.90 for the current crop year.

Click here to see this morning’s World Agricultural Supply and Demand Estimates report.



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Steve    
WI  |  December, 11, 2012 at 03:51 PM

When have these morons ever been right about any predictions they have made? This is another agency that could be cut. All we have gained by all the USDA surveys and predictions is the most volatile markets we have ever had and the only people who have gained are the traders with the fastest computer.


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