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FO Aug Class I Up 85 Cents/$4.99 Above 2013

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   The Agriculture department announced the August Federal order Class I base milk price this afternoon at $23.87 per hundredweight, up 85 cents from July $4.99 above August 2013, and equates to about $2.05 per gallon. The eight month Class I average now stands at $23.13 per cwt., up from $18.39 at this time a year ago, $16.37 in 2012, and $18.91 in 2011. The Class IV advanced pricing factor was the “higher of” in driving the Class I value.
  The two-week, NDPSR-surveyed butter price used in calculating the August Class I was $2.3379 per pound, up 15.3 cents from July. Nonfat dry milk averaged $1.8763, up 2.4 cents. Cheese averaged $2.0445, up 1.1 cent, and dry whey averaged 68.73 cents per pound, up 1.1 cent.

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