United States 

Department of 

Agriculture

Agricultural 

Marketing

Service

Dairy 

Market 

Statistics

2018 Annual Summary
PREFACE

Dairy Market News is a service provided by the U.S. Department of Agriculture 

(USDA) and cooperating State agencies under the authority of the Agricultural 

Marketing Act of 1946. The purpose is to provide dairy farmers and their 

cooperatives, processors, buyers and sellers of dairy products, and others 

with information which will help in making buying and selling decisions and 

future planning.

This is an annual summary of market statistics on dairy products collected 

and compiled by Dairy Programs of USDA's Agricultural Marketing Service 

(AMS), and published in "Dairy Market News," a weekly report. This annual 

summary contains data for 2018. Similar data have been published for the 

period 1940 through 2017.

Issued May 2019

The U.S. Department of Agriculture (USDA) prohibits discrimination in all its 

programs and activities on the basis of race, color, national origin, age, 

disability, and where applicable, sex, marital status, familial status, 

parental status, religion, sexual orientation, genetic information, political 

beliefs, reprisal, or because all or a part of an individual’s income is 

derived from any public assistance program. (Not all prohibited

bases apply to all programs.) Persons with disabilities who require 

alternative means for communication of program information (Braille, large

print, audiotape, etc.) should contact USDA’s TARGET Center at (202) 720-2600 

(voice and TDD).

To file a complaint of discrimination, write to USDA, Director, Office of 

Civil Rights, 1400 Independence Avenue, S.W., Washington, D.C. 20250-9410, or 

call (800) 795-3272(voice) or (202) 720-6382 (TDD). USDA is an equal 

opportunity provider and employer.
TABLE OF CONTENTS

 Page

SUMMARY OF DAIRY MARKET NEWS OPERATIONS DURING 2018..................................... 3

MARKET NEWS FIELD OFFICE................................................................ 4

I. STORAGE

Holdings of dairy products in selected storage centers, by week, 2018............ 5

II. DAIRY RELATED INFORMATION

International Dairy Market News 2018 Oceania and Western Europe and South America

Export Prices........................... ....................................... 6-8

Dairy Market News: Voice Availability............................................ 9

Dairy Market News: Internet Availability......................................... 10-12

Dairy Market News: Terminology................................................... 13-18

Dairy Market News: Working Guidelines............................................ 19-20

Criteria used by State and National Weekly Nonfat Dry Milk Sales Surveys 21

2018 January – August Monthly Averages........................................... 22-53

Year to Date Averages ........................................................... 54-56

III. ORGANIC REPORTS

2018 U.S. Organic Half Gallon Milk Weekly Weighted Average

Advertised Prices National and Regional.......................................... 57

2018 U.S. Half Gallon Conventional and Organic Milk Prices ...................... 58

 
3

SUMMARY OF DAIRY MARKET NEWS OPERATIONS DURING 2018

Dairy Market News covers markets for dairy products of commercial significance. These 

include butter, various kinds of cheese, concentrated and dry milk products, and fluid 

milk and cream. The kinds of market data gathered are determined by industry needs and 

by the willingness of industry members to voluntarily provide the necessary information. 

Market News reporters obtain information by telephone, Market News Communication System, 

fax and e-mail. They use the telephone most extensively in reaching buyers and sellers 

across the country and around the world.

Dairy Market News also includes import and export information and USDA releases on milk 

and dairy product production, marketings, stocks, prices, and outlook and situation 

information. 

Prices are reported for trucklot or carlot quantities (40,000 to 45,000) pounds and 

tanklot quantities (49,000 pounds). Prices for most products are issued once a week and 

represent a range of values for the entire week. In calculating the monthly average, the 

weekly price is applied to each workday in the week that is within the month (Saturdays, 

Sundays, and holidays excluded). This procedure is called time weighting. It is important 

for months having a split week because it gives the proper weight to the days in each 

month. No monthly average price is computed if one or more weekly prices are missing.

Monthly averages for prices reported more than once a week are simple averages of all 

prices reported during the month. Yearly averages are simple averages of the monthly 

average prices. No yearly average is computed if one or more monthly average prices are 

missing. The monthly CME Group exchange averages are simple averages of all the closes 

during the month. 

In addition to the printed report, Market News information is carried by news services 

and by newspapers, radio and television. Information also is available by telephone from 

Market News reporters. Some information is provided around the clock by recorded 

telephone messages (608-422-8602). Information is continually available on the Internet 

at: www.ams.usda.gov/dairymarketnews
4

DAIRY PROGRAMS, AMS

MARKET INFORMATION BRANCH

MARKET NEWS FIELD OFFICE

Janet Linder, National Supervisor

Phone 608-422-8588

Janet.Linder@ams.usda.gov

4600 American Parkway, STE 106

Madison, WI 53718

Phone: 608-422-8587

FAX: 608-240-6689

Recorded Information: 608-422-8602

Internet Address: www.ams.usda.gov/dairymarketnews

Portal database: http://www.marketnews.usda.gov/portal/da

My Market News: https://mymarketnews.ams.usda.gov

GENERAL NUMBER

(608) 422-8587

Elizabeth Frederick

(608) 422-8587

Elizabeth.Frederick@USDA.GOV

ORGANIC/ EAST

Daniel Johnson

(608) 422-8605

Daniel.Johnson@USDA.GOV

EAST

Jessica Mueller

(608) 422-8589

Jessica.Mueller@USDA.GOV

CENTRAL

Israel Weber

(608) 422-8601

Israel.Weber@USDA.GOV

SOUTHWEST/SOUTH AMERICA

AJ (Angel José) Terán

(608) 422-8593

Angel.Terán@USDA.GOV

SOUTHWEST

Florence Kone-Gonzalez

(608) 422-8594

Florence.KoneGonzalez@USDA.GOV

NORTHWEST/MOUNTAIN

Mike Bandli

(608) 422-8592

Mike.Bandli@USDA.GOV

EUROPE/OCEANIA

Eric Graf

(608) 422-8590

Eric.Graf@USDA.GOV

NATIONAL SUPERVISOR

Janet Linder

(608) 422-8588

Janet.Linder@USDA.GOV

BRANCH CHIEF

Butch Speth

(608) 422-8586

Butch.Speth@USDA.GOV
5

Table 3 -- Storage: Holdings of dairy products in selected storage centers, 

 by weeks, 2018 1/ 

 

 (Includes Government stocks) 

-------------------------------------------------------------------------------

 Week : : American :: Week : : American 

ending : Butter : cheese :: ending : Butter : cheese 

-------------------------------------------------------------------------------

 : 1,000 lbs. :: : 1,000 lbs. 

 : ---------- :: : ---------- 

 JAN 05 : 8,950 96,245 :: JUL 06 : 51,601 81,478 

 12 : 8,799 96,009 :: 13 : 52,197 82,617 

 19 : 9,775 94,464 :: 20 : 52,517 82,747 

 26 : 11,253 92,872 :: 27 : 52,753 81,021 

 FEB 02 : 12,466 90,416 :: AUG 03 : 52,705 82,961 

 09 : 15,290 89,898 :: 10 : 51,964 82,156 

 16 : 16,823 89,863 :: 17 : 52,368 81,895 

 23 : 17,537 89,246 :: 24 : 51,998 84,204 

 MAR 02 : 18,784 88,099 :: 31 : 49,803 83,471 

 09 : 20,781 86,965 :: SEP 07 : 47,526 85,326 

 16 : 20,521 86,590 :: 14 : 47,068 84,345 

 23 : 21,454 88,789 :: 21 : 45,532 84,148 

 30 : 22,344 86,663 :: 28 : 43,492 83,552 

 APR 06 : 23,807 86,566 :: OCT 05 : 46,228 82,711 

 13 : 24,930 87,696 :: 12 : 45,783 82,879 

 20 : 26,831 87,121 :: 19 : 44,899 81,947 

 27 : 31,494 86,786 :: 26 : 42,666 85,135 

 MAY 04 : 33,206 85,660 :: NOV 02 : 40,928 86,821 

 11 : 36,255 86,487 :: 09 : 39,379 88,647 

 18 : 40,398 86,202 :: 16 : 38,159 88,751 

 25 : 43,115 85,845 :: 23 : 28,422 88,674 

 JUN 01 : 46,499 85,313 :: 30 : 27,085 90,929 

 08 : 48,704 85,554 :: DEC 07 : 24,870 89,088 

 15 : 49,238 86,312 :: 14 : 22,659 88,120 

 22 : 49,076 84,879 :: 21 : 21,113 89,508 

 29 : 50,615 79,807 :: 28 : 21,037 88,903 

-------------------------------------------------------------------------------

 1/ Holdings as of mornings of given dates. See listing of "Selected Storage

Centers" on the following page of this report. 
INTERNATIONAL DAIRY MARKET NEWS

2018 WESTERN EUROPE EXPORT PRICES

U.S. dollars per metric ton, F.O.B. port.

 REPORT BUTTER SKIM MILK POWDER WHOLE MILK POWDER BUTTER OIL WHEY POWDER 

 1 4800 - 5100 1600 - 1700 2900 - 3125 6400 - 7900 725 - 900 

 3 4925 - 5125 1600 - 1725 2975 - 3150 6400 - 8025 750 - 900 

 5 4975 - 5225 1675 - 1775 3050 – 3250 6325 - 7400 775 - 900 

 7 5175 - 5675 1630 - 1750 3100 - 3275 6300 - 7100 800 - 925 

 9 5800 - 6250 1575 - 1725 3125 - 3275 6350 - 7325 875 - 925 

 11 5850 - 6075 1550 - 1675 3150 - 3300 6625 - 6850 800 - 975 

 13 5825 - 6200 1525 - 1675 3125 - 3300 6625 - 7200 900 - 975 

 15 5925 - 6850 1525 - 1675 3175 - 3350 6900 - 7250 925 - 975 

 17 6225 - 7175 1650 - 1775 3250 - 3350 6500 - 6825 900 - 950 

 19 6800 - 7125 1675 - 1800 3250 - 3375 6500 - 7650 900 - 925 

 21 6900 - 7250 1700 - 1825 3250 - 3400 6300 - 8300 875 - 950 

 23 7125 - 7300 1775 - 1950 3275 - 3475 6300 - 8800 825 - 975 

 25 6925 - 7300 1800 - 1950 3300 - 3475 5950 - 8875 900 - 975 

 27 6650 - 7100 1800 - 1925 3250 - 3375 6725 - 8725 925 - 1025 

 29 6325 - 6675 1725 - 1875 3275 - 3350 6900 - 8325 925 - 1025 

 31 6125 - 6550 1650 - 1800 3225 - 3300 6600 - 8200 900 - 1025 

 33 6200 - 6925 1725 - 1875 3175 - 3350 6750 - 8200 925 - 1025 

 35 6375 - 6900 1850 - 2000 3250 - 3550 6875 - 7500 975 - 1075 

 37 6325 - 6775 1900 - 2025 3300 - 3550 7025 - 7550 1000 - 1075 

 39 5875 - 6650 1825 - 1975 3225 - 3550 6450 - 6625 900 - 1075 

 41 5400 - 6050 1775 - 1925 3050 - 3450 6750 - 7000 950 - 1075 

 43 4900 - 5825 1750 - 1850 2950 - 3350 6800 - 7200 875 - 1050 

 45 4875 - 5450 1725 - 1900 3000 - 3250 6750 - 7075 850 - 1075 

 47 4850 - 5200 1775 - 1875 3000 - 3200 6800 - 7100 850 - 1050 

 49 4725 - 5150 1800 - 1925 3000 - 3175 6775 - 6975 875 - 1050 

 51 4725 - 5250 1900 - 2075 3000 - 3175 6825 - 6975 875 - 1025 

Information gathered for this report is from trades, offers to sell, and secondary data. Metric ton = 2,204.6 pounds. 

6
INTERNATIONAL DAIRY MARKET NEWS

2018 OCEANIA EXPORT PRICES

U.S. dollars per metric ton, F.O.B. port.

 REPORT BUTTER SKIM MILK POWDER WHOLE MILK POWDER CHEDDAR CHEESE 

 1 4475 - 4975 1675 - 1875 2850 - 2950 3300 - 3475 

 3 4525 - 5025 1775 - 1850 2925 - 3025 3375 - 3500 

 5 4550 - 5025 1775 - 1850 2925 - 3025 3375 - 3550 

 7 5250 - 5350 1875 - 2350 3200 - 3250 3700 - 3950 

 9 5300 - 5450 1750 - 1975 3225 - 3275 3575 - 3750 

 11 5275 - 5375 1750 - 1975 3200 - 3275 3700 - 3925 

 13 5250 - 5300 1900 - 1975 3200 - 3250 3550 - 3700 

 15 5475 - 5550 1875 - 1950 3250 - 3350 3600 - 3850 

 17 5625 - 5700 1900 - 2000 3275 - 3375 3775 - 3925 

 19 5625 - 5775 1975 - 2100 3175 - 3350 3925 - 4000 

 21 5750 - 5850 2025 - 2150 3200 - 3350 4050 - 4400 

 23 5525 - 5900 2025 - 2300 3175 - 3350 3975 - 4100 

 25 5550 - 5825 1900 - 2225 3175 - 3225 3800 - 4050 

 27 5375 - 5425 1925 - 2075 2850 - 3225 3675 - 3900 

 29 4875 - 5100 1950 - 2150 2950 - 3025 3550 - 3675 

 31 4950 - 5100 1950 - 2125 2975 - 3025 3600 - 3800 

 33 4750 - 5000 1925 - 2125 2950 - 3250 3575 - 4125 

 35 4325 - 4625 1900 - 2050 2850 - 2975 3375 - 3800 

 37 4225 - 4425 1975 - 2225 2800 - 2875 3575 - 3800 

 39 4275 - 4500 1925 - 2200 2750 - 2850 3400 - 3700 

 41 3950 - 4250 1950 - 2100 2650 - 2800 3400 - 3675 

 43 3975 - 4475 1925 - 2050 2675 - 2775 3375 - 3600 

 45 3975 - 4675 1975 - 2200 2600 - 2775 3250 - 3550 

 47 3550 - 4325 1925 - 2100 2525 - 2725 3200 - 3500 

 49 3700 - 3900 1925 - 2025 2600 - 2675 3075 - 3450 

 51 3750 - 3925 1975 - 2050 2625 - 2675 3150 - 3275 

Information gathered for this report is from trades, offers to sell, and secondary data. Metric ton = 2,204.6 pounds

7

INTERNATIONAL DAIRY MARKET NEWS

2018 SOUTH AMERICA EXPORT PRICES
U.S. dollars per metric ton, F.O.B. port.

REPORT SKIM MILK POWDER WHOLE MILK POWDER 

 1 2475 - 2575 2850 - 3450 

 3 2500 - 2600 2875 - 3450 

 5 2450 - 2650 2900 - 3350 

 7 2450 - 2700 3000 - 3450 

 9 2350 - 2600 3050 - 3350 

 11 2250 - 2500 3100 - 3375 

 13 2200 - 2450 3100 - 3350 

 15 2200 - 2500 3050 - 3350 

 17 2225 - 2525 3150 - 3400 

 19 2350 - 2650 3000 - 3250 

 21 2400 - 2700 3100 - 3300 

 23 2300 - 2600 3100 - 3300 

 25 2200 - 2550 3050 - 3350 

 27 2175 - 2525 2950 - 3300 

 29 2175 - 2525 2950 - 3300 

 31 2250 - 2550 2850 - 3250 

 33 2200 - 2500 2900 - 3300 

 35 2100 - 2400 2800 - 3200 

 37 2100 - 2400 2800 - 3200 

 39 2050 - 2350 2700 - 3100 

 41 2200 - 2500 2700 - 3100 

 43 2250 - 2550 2650 - 3050 

 45 2300 - 2600 2600 – 3050 

 47 2300 - 2600 2600 - 3050 

 49 2350 - 2650 2650 - 3100 

 51 2350 - 2650 2550 - 3050 

Information gathered for this report is from trades, offers to sell, and secondary data. Metric ton = 2,204.6 

pounds.

8
DIAL 608-422-8602 

MARKET NEWS INFORMATION BY PHONE 

The system is accessible via a touch-tone telephone. By listening to the menu and pressing the appropriate numbers, ylatest CME Group daily pricing for cheese, NDM, and butter, weekly domestic DMN dry product prices, and biweekly product prices. Release day(s) and times (Central) are in parenthesis. 1/ 

CME Group Cash Prices 

Cheese 

NDM 

Butter 

(Daily-12:15 p.m.) 

PRESS 4 

DMN Domestic Dry Product 

Prices 

(TH-Weekly 11:30 a.m.) 

PRESS 5 

DMN Int

(TH-Biw

P

1/ Holidays may affect release days and times. 

9  
10

DAIRY MARKET NEWS HOME PAGE

https://www.ams.usda.gov/market-news/dairy
11

DAIRY MARKET NEWS PORTAL

https://www.marketnews.usda.gov/mnp/da-home
12

MY MARKET NEWS

https://mymarketnews.ams.usda.gov/
13

DAIRY MARKET NEWS TERMINOLOGY

Over the years, those engaged in the marketing of dairy products have developed a language peculiar to the 

trade. Numerous terms and phrases having special meanings are in frequent use. Market reports are intended 

to convey useful information to readers regarding important phases of a market situation and are best 

understood by the trade if words and expressions employed are in common usage. The following terms, 

definitions and abbreviations are used in describing dairy markets and market situations.

AMS - Agricultural Marketing Service: An agency of the U.S. Department of Agriculture. This agency's 

responsibilities include administering marketing order programs, standardization, inspection and grading, 

market news, and the research and promotion programs. 

BARREL - A single commercial unit of cheese weighing 500 pounds.

BLOCK – A single commercial unit of cheese weighing either 40 or 640 pounds.

BULK BUTTER - Packed 68 pounds or 25 kg, net weight, in corrugated boxes.

BUTTERFAT / MILKFAT - The fat portion of whole milk.

CCC - Commodity Credit Corporation: An agency of the U.S. Department of Agriculture. This agency is 

authorized to assist agricultural producers through loans, purchases, payments and other operations, and 

makes available materials and facilities required in the production and marketing of agricultural 

commodities.

CIF - Cost, Insurance, and Freight.

CLASS AND COMPONENT PRICES AND PRODUCT PRICE FORMULAS: Prices are derived from National Dairy Products Sales 

Report collected by the Agricultural Marketing Service on a weekly basis. Average monthly weighted prices 

of NDM, whey, butter, and cheese are calculated and used in the Federal milk order program product price 

formulas. The formulas can be found at: http://www.ams.usda.gov/rules-regulations/mmr/dmr)

COLD STORAGE HOLDINGS - Products normally held for 30 days or more in public, private, and semiprivate 

refrigerated storage facilities. Does not include products in wholesalers' and retailers' storage 

facilities, which are normally held less than 30 days.

COMMERCIAL DISAPPEARANCE - Commercial disappearance includes civilian and military purchases of milk and 

dairy products for domestic and foreign use, but excludes farm household use and USDA donations of dairy 

products. Disappearance is a residual figure and therefore can be affected by any inaccuracies in 

estimating milk production, on-farm use, stocks, and imports. 

COMMERCIAL STOCKS - Total U.S. stocks or holdings, minus Government-owned stocks or holdings.

COMPONENT PRICE – Value of milk’s major components - butterfat, nonfat solids, or protein and other 

solids. The component prices are derived from weekly prices published in the National Dairy Products Sales 

Report (collected by AMS) for the major dairy products made from the components - butter, NDM, cheese, and 

dry whey.

CONTRACT SALES - Contract sales (oral or written) include product that is earmarked for a regular

established outlet. The contract may cover a specified period of time or volume. The price may be fixed or 

based on negotiated differentials over or under some base price or index.

DAIRY MARKET NEWS – DMN: A program administered by USDA, Agricultural Marketing Service which collects and 

provides timely and accurate information pertaining to supply and demand conditions for milk and dairy 

products. The program provides weekly/biweekly dairy market information to assist industry participants in 

making current buying and selling decisions and aid in future planning.

DMN REGIONS:

 DOMESTIC:

 CENTRAL - Arkansas, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Minnesota, Missouri, 

Nebraska, North Dakota, Ohio, Oklahoma, South Dakota, Texas, and Wisconsin

 NORTHEAST - Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New 

York, Pennsylvania, Rhode Island, and Vermont

 SOUTHEAST - Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, 

Tennessee, Virginia, and West Virginia
14

WEST - Arizona, California, Colorado, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, 

Washington, and Wyoming

 INTERNATIONAL:

EASTERN EUROPE - Belarus, Bulgaria, Czechoslovakia, Hungary, Latvia, Lithuania, Poland, Romania, 

Slovakia, and Ukraine

 OCEANIA - Australia and New Zealand

WESTERN EUROPE (EU-15) - Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, 

Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and United Kingdom 

EU-27 – All EU-15 countries plus Bulgaria, Cyprus, the Czech Republic, Estonia, Hungary, Latvia, 

Lithuania, Malta, Poland, Romania, Slovakia and Slovenia. 

South America – Argentina, Brazil, Chile, Colombia, Ecuador, Uruguay, Paraguay, Peru

DEIP - Dairy Export Incentive Program: This program was repealed by the Agricultural Act of 2014. DEIP 

paid cash bonuses to exporters, allowing them to buy at U.S. prices and sell abroad at prevailing (lower) 

international prices. DEIP removed nonfat dry milk, butterfat, and certain cheeses from the domestic 

market and helped develop export markets. The DEIP was announced by USDA on May 15, 1985. DEIP quantities 

and dollar amounts were subject to World Trade Organization (WTO) restrictions under the Uruguay Round 

Agreement on Agriculture.

DELIVERED EQUIVALENT - Prices are derived by using an f.o.b. price, plus an adjustment to reflect the cost 

of transporting the product to a specified area.

DELIVERED PRICE - F.O.B. price plus transportation and handling.

DEMAND - The desire to possess a commodity, coupled with the willingness and ability to pay.

VERY GOOD – Offerings or supplies are rapidly being absorbed.

GOOD – Firm confidence on the part of buyers that general market conditions are good. Trading is 

more active than normal.

MODERATE – Average buyer interest and trading.

LIGHT – Demand is below average.

VERY LIGHT – Few buyers are interested in trading.

ERS - Economic Research Service: An agency of the U.S. Department of Agriculture. This agency's 

responsibilities include providing economic research and forecasting.

EX DOCK - Often seen as "Ex Doc, Duty Paid." Imported product that has cleared customs and all paperwork 

has been completed. Product is available for pickup by the buyer.

EXCHANGE - An organization which establishes and enforces rules of trade in a market (cash and futures 

markets). Terms used by DMN which are associated with exchange trading.

BID - Refers to the price a buyer is willing to pay for a product. May raise the trading level. 

CARLOT – CME Group - Cheese = 40,000 - 44,000 pounds

 Butter = 41,000 - 43,000 pounds

 NDM = 41,000 – 45,000 pounds

 Dry Whey = 41,000 – 45,000

 

OFFER - Refers to the price an owner is willing to accept for a product. May lower the trading 

level. 

SALE - A bid filled or an offer covered.

FAS - Foreign Agricultural Service: An agency of the U.S. Department of Agriculture. This agency's 

responsibilities include providing foreign agricultural information, administering import regulations, and 

assisting in the export of U.S. farm products.

FEDERAL MILK MARKETING ORDERS - Federal Milk Marketing Orders are authorized by the Agricultural Marketing 

Agreement Act of 1937. Under this law, the Secretary of Agriculture may establish Federal Orders that 
15

apply to buyers (handlers) of milk. Basically, a milk order is a legal document issued to regulate the 

minimum prices paid to dairy farmers by handlers of Grade A milk in a specified marketing area. Milk under 

the Federal Milk Marketing Order system is separated into four separate classes:

CLASS I - Milk used for beverages including eggnog and ultra-high temperature (UHT) milk.

CLASS II - Milk used for soft products. This includes cottage cheese, ricotta cheese, pot cheese, 

Creole cheese, milk shake and ice milk mixes, frozen desserts, aerated cream, frozen cream, sour 

cream, half and half, yogurt, custards, puddings, pancake mixes, batter, buttermilk biscuit mixes, 

infant or dietary formulas packaged in hermetically sealed containers, candy, soup and bakery 

products for general distribution to the public including sweetened condensed milk used for 

manufacture of aforesaid products, and fluid cream or any product containing artificial fat or the

fat substitutes that resemble fluid cream.

CLASS III - Milk used in the manufacture of cream cheese and other spreadable cheeses, and hard 

cheese of types that may be shredded, grated, or crumbled. It also includes plastic cream, 

anhydrous milkfat, and butteroil.

CLASS IV - Milk used to produce butter, any milk product in dry form and evaporated or sweetened 

condensed milk in a consumer-type package.

FDA - Food and Drug Administration: An agency of the U.S. Department of Health and Human Services.

FLUID GRADE MILK (GRADE A) - Milk eligible for sale for use in fluid milk products. This milk must be 

produced under strict sanitary conditions which meet U.S. Public Health Service standards. Fluid grade 

milk may be used to make manufactured dairy products.

F.O.B. - Free on Board: Seller places product sold in a railcar, truck, or other form of transportation. 

The buyer then assumes transportation costs.

FSA - Farm Service Agency: An agency of the U.S. Department of Agriculture. This agency's responsibilities 

include administering the dairy and other farm commodity price support programs.

FUTURES TERMS - several common terms used by traders in futures markets.

CFTC - The Commodity Futures Trading Commission as created by the Commodity Futures Trading 

Commission Act of 1974. This government agency currently regulates the nation’s commodity 

futures industry.

CME Group – A derivatives marketplace.

CONTRACT - Unit of trading for a commodity future. Also, actual bilateral agreement between the 

parties (buyer and seller) of a futures or option on futures transaction as defined by an 

exchange.

CONTRACT MONTH - The month in which futures contracts may be satisfied by making or accepting 

delivery. 

DELIVERY - The tender and receipt of an actual commodity or cash in settlement of a futures 

contract. 

LONG - An investor expecting a futures price to increase may decide to go long or buy a futures 

contract. 

SHORT - An investor expecting a futures price to decline may go short or sell a futures contract. 

OPEN INTEREST - Total number of futures or options on futures contracts that have not yet been 

offset or fulfilled by delivery. An indicator of the depth or liquidity of a market (the ability 

to buy or sell at or near a given price) and of the use of a market for risk and/or assetmanagement.

SETTLEMENT PRICE - A figure determined by the closing range that is used to calculate gains and 

losses in futures market accounts. Settlement prices are used to determine gains, losses, 

margin calls, and invoice prices for deliveries.

VOLUME - The number of transactions in a futures or options on futures contract made during a 

specified period of time.

LTL - Less than truckload quantity.

MAILBOX PRICES - Net pay prices received by dairy farmers for milk. Prices reflect all payments received 
16

for milk sold and all costs associated with marketing the milk.

MANUFACTURING GRADE MILK (GRADE B) - Milk eligible for sale for which use is limited to manufactured dairy 

products. This milk must be produced under conditions which meet state and local standards, but these 

standards are less stringent than those for fluid grade milk (Grade A).

MARKET - A term with several meanings:

 A. A geographic location where a commodity is traded.

 

B. The price, or price level, at which a commodity is traded.

 C. To sell a commodity.

MARKET ACTIVITY - The rate at which sales are being made. Often stated as: active, moderate, slow, or 

inactive. 

MARKET CHANNELS:

BROKER/TRADER - A middleman activity involved in facilitating sales between producers and other 

levels in the marketing chain. Typically does not take title to product.

FOOD SERVICE - A marketing channel which includes purchases of dairy products by hotels, 

restaurants, fast food outlets, schools, and institutions. 

INDUSTRIAL - A marketing channel which includes dairy products purchased as an ingredient in the 

production of food and nonfood products. 

JOBBER - A middleman activity in food distribution involving the transfer of products between 

wholesalers or manufacturers and end use outlets. Jobbing sales are usually on a small scale 

and jobbers provide special services to small food stores, restaurants, and institutions. 

Typically takes title to product.

RETAIL - A marketing channel which sells dairy products directly to the consumer for personal or 

household consumption. 

WHOLESALE - A middle link in the food distribution chain. Wholesalers assemble relatively large 

quantities of product and resell in smaller lots to various users such as the food service trade, 

small retail food stores, and jobbers. Major functions may include assembling, grading, 

warehousing, order taking, cutting, wrapping, printing, and delivery. Customer services such as 

merchandising aids and credit also may be provided.

MERCOSUR - An economic and commercial bloc of countries in South America composed of Argentina, Brazil, 

Paraguay, and Uruguay. Chile, Bolivia, Colombia, Ecuador, and Peru are associate countries. 

METRIC CONVERSIONS:

KG / KILOGRAM = 2.2046 pounds

MT / METRIC TON = 2,204.6 pounds

MICRO-FIXING – A manufacturing procedure to convert cold storage bulk butter into print butter. 

MPC – Milk protein concentrate.

MOSTLY - The majority of sales within a reported price range. Transaction driven, not volume weighted.

NA - Not available, not applicable.

NASS - National Agricultural Statistics Service: An agency of the U.S. Department of Agriculture. This 

agency's responsibilities include providing official USDA data and estimates of agricultural prices, dairy 

products, milk production, cold storage, and other items.

NC - No change.

NDM – Nonfat Dry Milk – See USDA standards. https://www.ams.usda.gov/grades-standards/dairy-products

NDPSR – National Dairy Products Sales Report. https://www.ams.usda.gov/grades-standards/dairy-products
17

NOMINAL PRICES – Prices that reflect buyers’ and sellers’ opinions of current values (bids, offers, grade, 

and regional differentials, etc.) when there is limited trading of a commodity. Ordinarily, published 

prices are based on three or more separate, actual spot transactions. However, because of the practical 

uses made of pricing information by buyers and sellers, nominal prices are used to indicate where spot 

trades would occur. If a reporter is unable to gather enough information for nominal prices, then prices 

are reported as too few to report (TFEWR).

ORGANIC – Organic is a labeling term that indicates that the food or other agricultural product has been 

produced through USDA approved methods that integrate cultural, biological, and mechanical practices that 

foster cycling of resources, promote ecological balance, and conserve biodiversity. Synthetic fertilizers, 

sewage sludge, irradiation, and genetic engineering may not be used. To be labeled as “organic,” food must 

be certified as meeting USDA standards.

PRICE TREND – The direction in which prices are moving in relation to trading in the previous reporting 

period(s). 

HIGHER – The majority of sales are at prices measurably higher than the previous trading session.

FIRM – Prices are tending higher, but not measurably so.

STEADY – Prices are unchanged from the previous trading session.

WEAK – Prices are tending lower, but not measurably so.

LOWER – Prices for most sales are measurably lower than the previous trading session.

PRINT BUTTER - Butter which is packaged in one-pound or smaller pieces.

PRODUCT PRICE FORMULAS – Used to compute advanced prices as well as class and component prices that set 

the minimum price paid to milk producers in all federal milk orders. The formulas consist of weighted 

average product prices, make allowances, and yield factors. The product prices are those published in the 

National Dairy Products Sales Report (a mandatory survey conducted by AMS) for butter, NDM, cheese, and 

dry whey.

RAILCAR = approximately 130,000 to 160,000 pounds.

RESALE PRICES - Transactions that reflect product that has been purchased and resold (can be more than 

once). Trades can occur above, below, or at spot prices depending on current market conditions. These

trades are not reported in spot price ranges but may be included in comments.

SMP – Skim Milk Powder

1. An international market term often used interchangeably for NDM. 

2. A term used in the United States for a dry product made from a blend of condensed skim and 

another condensed dairy product(s) generally for export sales. This product does not meet USDA 

standards for NDM.

SOLIDS-NOT-FAT (SNF) - The solids in milk other than milkfat. Also known as nonfat solids.

SOUTHERN CONE - The region composed of Argentina, Chile, Uruguay, Paraguay and the Southeastern region of 

Brazil. 

SPOT PRICES - The first sale, f.o.b. the producing plant, of product that has no regular or committed 

outlet and is sold on the open market for immediate delivery or delivery within a few days. 

SUPPLY/OFFERING - The quantity of a particular item available for current sale.

 

HEAVY – When the volume of supplies is above average for the market being reported.

MODERATE – When the volume of supplies is average for the market being reported.

LIGHT – When the volume of supplies is below average for the market being reported.

TAMBO - A farm level dairy operation in some Latin American countries.

TFEWR - Too few to report - insufficient market information to determine a price.
18

TL - Truckload = approximately 40,000 - 44,000 pounds.

UNDERTONE/TONE - Situation or sense of market direction.

USPHS - United States Public Health Service: An agency of the U.S. Department of Health and Human 

Services. This agency’s responsibilities include the promulgation and administration of federal standards 

of identity (which define milk and dairy products) and administering the fluid Grade A milk program (which 

covers the sanitary aspects of milk and processing).

WET SOLIDS - another term for condensed skim.
19

DAIRY MARKET NEWS

Working Guidelines

The Market News Service is authorized by the Agricultural Marketing Act of 1946 and is supported by annual 

congressional appropriations and user fees. The Agricultural Marketing Act described the purpose of Market 

News in part, as follows: "To collect and disseminate marketing information, including adequate outlook 

information on a market-area basis, for the purpose of anticipating and meeting consumer requirements, aiding 

in the maintenance of farm income, and bringing about a balance between production and utilization of 

agricultural products." 

Dairy Market News reporters collect information through voluntary telephone surveys of industry 

contacts. These contacts represent all segments of the dairy trade including: producers, processors, end users, 

buyers, brokers, and others. The diverse contact base allows reporters to cross-evaluate reported data. All 

reported data is strictly confidential. The information from all contacts is analyzed, summarized and then the 

composite information is released to the industry at a specified time. Reporters seek out any contact that is 

willing to talk to them on a regular basis.

REPORTING GUIDELINES

These guidelines are based on reporting principles from our Handbook and are compiled from our actual 

daily operating procedures.

GENERAL IN NATURE

• Without industry cooperation there would be no market report 

• Cooperation is possible because the industry values the information for making marketing decisions 

• All information collected is confidential and voluntary 

• Reports are a survey of the industry and not all inclusive 

• Reporters are unbiased in reporting and strive for consistency 

MORE SPECIFIC ISSUES

• If unable to confirm information with the buyer and seller and it is not representative of the market, 

reporters are under no obligation to use it 

• If a confirmed trade is unrepresentative of the market, reporters are not obligated to use it 

• Uneconomic trading is questioned 

• Quality and terms of sale including transportation are always an issue 

• Reporting procedures are consistent whether prices are increasing or decreasing 
20

CONDITIONS OF SALE

• Reporters are looking for spot sales in carlot/truckload (CL/TL) quantities 

o First sale, FOB plant

o First sale, FOB plant or warehouse, by marketing agent (effective Report 1 2016)

o Resale information is used for comments only

• No audits of sales records are performed

• The mostly price range may be used to more closely define the majority of trades when applicable 

• Mostly price ranges are not volume weighted, but are transaction driven 

• Nominal prices - When not enough actual transactions are reported on a particular product or specific 

grade of product, the reporter may report a nominal price series. Ordinarily, published prices are 

based upon actual transactions; however, because of the practical uses made of price information by 

buyers and sellers, nominal prices may be published for brief periods. Nominal prices represent 

reporters' knowledge and best judgment as to value - - considerations being given to: 

o Expressed opinions of buyers and sellers as to current value.

o Usual price differentials between other grades or levels of trading.

o The general tone of the market, available supplies, etc.

o Other factors which may have an influence on the price.

No price shall be reported on a particular product or specific grade of product when under the abovementioned conditions, no fair price can be arrived at in the mind of the reporter.

CONTRACTS

• The general definition is that reporters use spot sales 

• Some contract sales qualify to be included if they meet certain criteria: 

o include a new contract sale the week it is established

o if the volume is negotiated each week with none as a possibility

o prices may be based on an index, but sales must be representative of current market conditions

• Contract sales are included for lactose and casein markets per industry practice and this is explicitly 

stated in the price line for these reports 

ADDITIONAL

The industry is consulted when additional products to report are considered. Any changes or modifications 

to reports are noticed to the industry prior to implementation after comprehensive consideration to establish 

that changes are market neutral.

USDA/AMS/DAIRY MARKET NEWS, 4600 American Parkway, STE 106, Madison, WI 53718

http://www.ams.usda.gov/market-news/dairy

Issued 2/2007; reissued 12/2015
21

(12/2016) Table by AMS, Dairy Market News, summarized from information found at various official state and federal web locations, including: http://www.cdfa.ca.gov/, http://www.gpo.gov/fdsys/pkg/FR-2012-02-15/pdf/2012-3566.pdf

Access Agricultural Marketing Service, Dairy Programs survey information at: https://mpr.datamart.ams.usda.gov/

Access California Weighted Average Prices survey information at: http://www.cdfa.ca.gov/dairy/pdf/Prices_Grid.pdf

*Updated to reflect discontinuation of DEIP and clarify disallowance of new premium assisted programs that may be offered. **This price series was discontinued as of October 10, 2018. 

CRITERIA USED BY STATE AND NATIONAL WEEKLY NONFAT DRY MILK SALES SURVEYS 

NATIONAL DAIRY PRODUCTS SALES REPORT (AMS) SURVEY (Valid beginning April 1, 2012)

NDM Varieties 

Included

Manufacturer 

Exemptions

Minimum

Transaction 

Size 

Sales Time Frame Include Grade Packaging Exclude

• NonFortified

Processes and 

markets less than 

1 million pounds 

of NDM per 

calendar year

None Sunday -- Saturday 

(Published electronically 

on Wednesdays, no later 

than 3:00 pm ET, with 

data for previous week. 

If a federal holiday falls 

on Monday, Tuesday, or 

Wednesday in any given 

week, then published 

electronically on 

Thursdays, no later than 

3:00 pm ET)

• NDM prepared using low or medium 

heat process

• Complete transactions (product 

shipped out and title transfers)

• Brokerage fees paid by the 

manufacturer

• Clearing charges paid by the 

manufacturer

• Prices as F.O.B. plant or F.O.B. storage 

facility

• USDA Extra 

Grade 

• USPH Grade 

A

• 25 kg bag

• 50 lb bag

• Tote

• Tanker

• Forward pricing sales in which the 

selling price is established(and not 

adjusted) 30 or more days before 

the transaction is completed

• Intra-company sales on NDM

• Resales of purchased NDM

• NDM certified as organic by a 

USDA-accredited certifying agent

• Sales of NDM produced under faithbased close supervision and 

marketed at a higher price than the 

manufacturer’s wholesale market 

price for the basic commodity

• Premium assisted sales*

• Sales of NDM more than 180 days 

old

• Instant NDM

• Skim milk powder

• High heat NDM

CALIFORNIA WEIGHTED AVERAGE PRICE (CWAP) SURVEY**

NDM Varieties 

Included

Manufacturer 

Exemptions

Minimum

Transaction 

Size 

Sales Time Frame Include Grade Packaging Exclude

• Vitamin–

Fortified

• rBST-free

• Low heat

• Medium 

heat

• High heat

None None Saturday – Friday

(Published electronically 

on Tuesdays, with data 

for previous week)

• Complete transactions (product shipped 

out and title transfers)

• Fixed price contract sales within 150 

days of first shipment date

• Prices as F.O.B. processing plant/storage 

center

• All indexed contract sales

• Energy surcharges

• Container costs

• Sales to CCC

• DEIP sales

• USDA Extra 

Grade

• Grade A

All 

container 

sizes

• Organic

• Skim milk

• Whole milk

• Dry buttermilk

• Instant NDM

• Dry whey products

• Intra-company sales

• Resales

• Transportation charges

• Clearing charges

• Broker fees
22

DAIRY MARKET NEWS DOMESTIC MONTHLY SUMMARY AND AVERAGES FOR JANUARY 20181 - (UNLESS OTHERWISE NOTED, PRICES ARE DOLLARS PER POUND, CL/TL)

 

 ::REPORT NUMBER 1 ::REPORT NUMBER 2 ::REPORT NUMBER 3 ::REPORT NUMBER 4 ::REPORT NUMBER 5 :: 2018 : 2017 

 COMMODITY ::-----------------::-----------------::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: JAN 1 - 5 :: JAN 8 – 12 :: JAN 15 - 19 :: JAN 22 - 26 :: JAN 29 - 31 :: Average : Average 

 CHEESE 

WISCONSIN (WSP, Delivered, LTL) 

-- Process American 5# Loaf :: 1.5275 - 1.8875 :: 1.4950 - 1.8550 :: 1.3775 - 1.7375 :: 1.4150 - 1.7750 :: 1.4375 - 1.7975 :: 1.6315 : 1.8486 

-- Brick And/Or Muenster 5# :: 1.8800 - 2.3050 :: 1.8700 - 2.2950 :: 1.8200 - 2.2450 :: 1.8900 - 2.3150 :: 1.8775 - 2.3025 :: 2.0807 : 2.2643 

-- Cheddar 40# Block :: 1.6075 - 2.0025 :: 1.5975 - 1.9925 :: 1.5475 - 1.9425 :: 1.6175 - 2.0125 :: 1.6050 - 2.0000 :: 1.7932 : 1.9768 

-- Monterey Jack 10# :: 1.8550 - 2.0600 :: 1.8450 - 2.0500 :: 1.7950 - 2.0000 :: 1.8650 - 2.0700 :: 1.8525 - 2.0575 :: 1.9457 : 2.1293 

-- Blue 5# :: 2.1475 - 3.1350 :: 2.1375 - 3.1250 :: 2.0875 - 3.0750 :: 2.1575 - 3.1450 :: 2.1450 - 3.1325 :: 2.6295 : 2.8130 

-- Mozzarella 5 - 6# :: 1.6800 - 2.6200 :: 1.6700 - 2.6100 :: 1.6200 - 2.5600 :: 1.6900 - 2.6300 :: 1.6775 - 2.6175 :: 2.1382 : 2.3218 

-- Grade A Swiss Cuts 6 - 9# :: 2.7825 - 2.9000 :: 2.8200 - 2.9375 :: 2.8200 - 2.9375 :: 2.8200 - 2.9375 :: 2.8200 - 2.9375 :: 2.8716 : 2.7063 

NORTHEAST (WSP, Delivered, LTL) 

-- Cheddar 40# Block :: 1.9725 - 2.2575 :: 1.9625 - 2.2475 :: 1.9125 - 2.1975 :: 1.9825 - 2.2675 :: 1.9700 - 2.2550 :: 2.1032 : 2.2893 

-- Process 5# Sliced :: 1.5725 - 2.0525 :: 1.5400 - 2.0200 :: 1.4225 - 1.9025 :: 1.4600 - 1.9400 :: 1.4825 - 1.9625 :: 1.7365 : 1.9511 

-- Muenster :: 1.9575 - 2.3075 :: 1.9475 - 2.2975 :: 1.8975 - 2.2475 :: 1.9675 - 2.3175 :: 1.9550 - 2.3050 :: 2.1207 : 2.3068 

-- Grade A Swiss Cuts 10 - 14# :: 3.2650 - 3.5875 :: 3.3025 - 3.6250 :: 3.3025 - 3.6250 :: 3.3025 - 3.6250 :: 3.3025 - 3.6250 :: 3.4566 : 3.2913 

WEST COAST (WSP, Delivered, LTL) 

-- Process 5# Loaf :: 1.5150 - 1.7725 :: 1.4825 - 1.7400 :: 1.3650 - 1.6225 :: 1.4025 - 1.6600 :: 1.4250 - 1.6825 :: 1.5678 : 1.7849 

-- Cheddar 40# Block :: 1.6400 - 2.0850 :: 1.6300 - 2.0750 :: 1.5800 - 2.0250 :: 1.6500 - 2.0950 :: 1.6375 - 2.0825 :: 1.8507 : 2.0343 

-- Cheddar 10# Cuts :: 1.8200 - 2.0400 :: 1.8100 - 2.0300 :: 1.7600 - 1.9800 :: 1.8300 - 2.0500 :: 1.8175 - 2.0375 :: 1.9182 : 2.1018 

-- Monterey Jack 10# :: 1.8300 - 1.9900 :: 1.8200 - 1.9800 :: 1.7700 - 1.9300 :: 1.8400 - 2.0000 :: 1.8275 - 1.9875 :: 1.8982 : 2.0818 

-- Grade A Swiss Cuts 6 - 9# :: 2.8425 - 3.2725 :: 2.8800 - 3.3100 :: 2.8800 - 3.3100 :: 2.8800 - 3.3100 :: 2.8800 - 3.3100 :: 3.0879 : 2.9225 

 

 

 FLUID PRODUCTS 

SPOT PRICES OF CLASS II CREAM ($ per lb. butterfat) 

 -- Northeast - f.o.b :: 2.1969 - 2.5264 :: 2.2238 - 2.5574 :: 2.1705 - 2.4961 :: 2.1406 - 2.4617 :: 2.1215 - 2.5458 :: 2.3447 : 2.4505 

 -- Upper Midwest - f.o.b :: 2.4166 - 2.6363 :: 2.4462 - 2.6019 :: 2.3414 - 2.5612 :: 2.3119 - 2.5687 :: 2.3761 - 2.5458 :: 2.4817 : 2.5510 

PRICES OF CONDENSED SKIM - NORTHEAST ($ per lb. wet solids) - f.o.b. 

 -- Class II :: 0.65 - 0.83 :: 0.65 - 0.83 :: 0.65 - 0.83 :: 0.65 - 0.80 :: 0.65 - 0.80 :: 0.7343 : 0.8353 

 -- Class III :: 0.55 - 1.06 :: 0.55 - 0.97 :: 0.55 - 0.97 :: 0.55 - 0.97 :: 0.55 - 0.97 :: 0.7686 : 0.8270 
23

DAIRY MARKET NEWS DOMESTIC MONTHLY SUMMARY AND AVERAGES FOR JANUARY 20181 - (UNLESS OTHERWISE NOTED, PRICES ARE DOLLARS PER POUND, CL/TL)

 

 ::REPORT NUMBER 1 ::REPORT NUMBER 2 ::REPORT NUMBER 3 ::REPORT NUMBER 4 ::REPORT NUMBER 5 :: 2018 : 2017 

 COMMODITY ::-----------------::-----------------::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: JAN 1 - 5 :: JAN 8 - 12 :: JAN 15 - 19 :: JAN 22 - 26 :: JAN 29 - 31 :: Average : Average 

 DRY PRODUCTS 

 

NONFAT DRY MILK 

-- Central And East (f.o.b.) 

 -- Low/Medium Heat :: 0.6500 - 0.7400 :: 0.6500 - 0.7300 :: 0.6500 - 0.7200 :: 0.6500 - 0.7900 :: 0.6500 - 0.7500 :: 0.6986 : 1.0143 

 -- Mostly :: 0.6850 - 0.7300 :: 0.6800 - 0.7200 :: 0.6700 - 0.7000 :: 0.7000 - 0.7250 :: 0.6900 - 0.7250 :: 0.7026 : 1.0333 

 -- High Heat :: 0.8100 - 0.9200 :: 0.8075 - 1.0200 :: 0.8200 - 0.9800 :: 0.8200 - 0.9800 :: 0.8500 - 0.9800 :: 0.8988 : 1.1448 

-- West (f.o.b) 

 -- Low/Medium Heat :: 0.6150 - 0.7500 :: 0.6100 - 0.7300 :: 0.6300 - 0.7400 :: 0.6500 - 0.7600 :: 0.6400 - 0.7600 :: 0.6879 : 1.0163 

 -- Mostly :: 0.6500 - 0.7300 :: 0.6500 - 0.7200 :: 0.6700 - 0.7200 :: 0.6800 - 0.7300 :: 0.6800 - 0.7300 :: 0.6955 : 1.0320 

 -- High Heat :: 0.8300 - 0.9200 :: 0.8300 - 0.9200 :: 0.8500 - 0.9200 :: 0.8500 - 0.9450 :: 0.8500 - 0.9450 :: 0.8855 : 1.1190 

WHEY POWDER (Nonhygroscopic) 

 -- Central (f.o.b.) :: 0.1900 - 0.3000 :: 0.1800 - 0.2950 :: 0.1800 - 0.2900 :: 0.1800 - 0.2900 :: 0.1800 - 0.2900 :: 0.2375 : 0.4410 

 -- Mostly :: 0.2250 - 0.2900 :: 0.2200 - 0.2775 :: 0.2150 - 0.2700 :: 0.2150 - 0.2700 :: 0.2100 - 0.2700 :: 0.2465 : 0.4231 

 -- West (f.o.b.) :: 0.2000 - 0.3200 :: 0.2000 - 0.3150 :: 0.2000 - 0.3100 :: 0.2000 - 0.3100 :: 0.2000 - 0.3000 :: 0.2558 : 0.4718 

 -- Mostly :: 0.2500 - 0.2800 :: 0.2450 - 0.2800 :: 0.2400 - 0.2800 :: 0.2400 - 0.2800 :: 0.2200 - 0.2600 :: 0.2587 : 0.4606 

 -- Northeast (f.o.b.) :: 0.2500 - 0.3350 :: 0.2500 - 0.3250 :: 0.2500 - 0.3200 :: 0.2500 - 0.3125 :: 0.2500 - 0.3125 :: 0.2856 : 0.4519 

WHEY PROTEIN CONCENTRATE 

-- Central And West (f.o.b.) 

 -- Extra Grade 34% Protein :: 0.6100 - 0.9400 :: 0.6100 - 0.9400 :: 0.6000 - 0.9400 :: 0.5900 - 0.9400 :: 0.5900 - 0.9400 :: 0.7702 : 0.9456 

 -- Mostly :: 0.6500 - 0.8125 :: 0.6500 - 0.8050 :: 0.6500 - 0.8000 :: 0.6500 - 0.8000 :: 0.6700 - 0.7800 :: 0.7268 : 0.9318 

ANIMAL FEED - WHEY 

-- Central (f.o.b.) 

 -- Milk Replacer :: 0.1500 - 0.2500 :: 0.1500 - 0.2500 :: 0.1500 - 0.2475 :: 0.1500 - 0.2475 :: 0.1500 - 0.2300 :: 0.1980 : 0.3785 

BUTTERMILK (Min. 30% protein) 

-- Central And East (f.o.b.) :: 0.7500 - 0.8500 :: 0.6500 - 0.8500 :: 0.6500 - 0.8500 :: 0.6800 - 0.8500 :: 0.6350 - 0.8100 :: 0.7592 : 0.9715 

-- West (f.o.b.) :: 0.6500 - 0.7900 :: 0.6500 - 0.7500 :: 0.6500 - 0.7700 :: 0.6800 - 0.7700 :: 0.6800 - 0.8000 :: 0.7174 : 0.9860 

 -- Mostly :: 0.6700 - 0.7500 :: 0.6700 - 0.7200 :: 0.6900 - 0.7200 :: 0.7000 - 0.7300 :: 0.7000 - 0.7300 :: 0.7074 : 0.9913 

DRY WHOLE MILK 

-- National (f.o.b.) :: 1.3500 - 1.4500 :: 1.3500 - 1.4500 :: 1.3500 - 1.4500 :: 1.3500 - 1.5000 :: 1.3500 - 1.5000 :: 1.4095 : 1.5195 

LACTOSE 

-- Central And West (f.o.b.) :: 0.1600 - 0.3500 :: 0.1600 - 0.3500 :: 0.1600 - 0.3500 :: 0.1600 - 0.3500 :: 0.1800 - 0.3500 :: 0.2564 : 0.4100 

 -- Mostly :: 0.1800 - 0.2600 :: 0.1800 - 0.2450 :: 0.1800 - 0.2450 :: 0.1800 - 0.2450 :: 0.1900 - 0.2450 :: 0.2146 : 0.3718 

CASEIN - Edible - National (f.o.b.) 

 -- Nonrestricted - Rennet :: 1.9875 - 2.1000 :: 1.9875 - 2.1000 :: 2.0850 - 2.1425 :: 2.0850 - 2.1425 :: 2.0850 - 2.1425 :: 2.0838 : 3.0314 

 -- Nonrestricted - Acid :: 2.9000 - 3.3000 :: 2.9000 - 3.3000 :: 2.9500 - 3.3000 :: 2.9500 - 3.3000 :: 2.9500 - 3.3000 :: 3.1143 : 3.0892 

------------------------------------------------------------------------------------------------------------------------------------------------------- 

1 Prices for all products are issued once a week and represent a value for the entire week. Monthly averages are based on weekly prices and are 

time-weighted according to the number of workdays in the month - Saturdays, Sundays and National Holidays excluded. No monthly average is computed if 

one or more weekly prices are missing. 
24

 DAIRY MARKET NEWS INTERNATIONAL MONTHLY SUMMARY AND AVERAGES FOR JANUARY 20181

 (UNLESS OTHERWISE NOTED, PRICES ARE U.S.DOLLARS/METRIC TON, F.O.B. PORT) 

 

 ::REPORT NUMBER 1 ::REPORT NUMBER 3 ::REPORT NUMBER 5 :: 2018 * : 2017 * 

 COMMODITY ::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: JAN 1 – 5 :: JAN 8 - 19 :: JAN 22 - 31 :: Average : Average 

--------------------------------------------------------------------------------------------------------------

 

BUTTER (82% BUTTERFAT) 

 -- OCEANIA :: 4475 - 4975 :: 4525 - 5025 :: 4550 - 5025 :: 4768 : 4416 

 -- WESTERN EUROPE :: 4800 - 5100 :: 4925 - 5125 :: 4975 - 5225 :: 5035 : 4519 

BUTTEROIL (99% BUTTERFAT) 

 -- WESTERN EUROPE :: 6400 - 7900 :: 6400 - 8025 :: 6325 - 7400 :: 7077 : 4812 

CHEDDAR CHEESE (39% MAXIMUM MOISTURE) 

 -- OCEANIA :: 3300 - 3475 :: 3375 - 3500 :: 3375 - 3550 :: 3435 : 3766 

SKIM MILK POWDER (1.25% BUTTERFAT) 

 -- OCEANIA :: 1675 - 1875 :: 1775 - 1850 :: 1775 - 1850 :: 1804 : 2400

 -- SOUTH AMERICA :: 2475 - 2575 :: 2500 - 2600 :: 2450 - 2650 :: 2545 : 2486

 -- WESTERN EUROPE :: 1600 - 1700 :: 1600 - 1725 :: 1675 - 1775 :: 1682 : 2236 

WHEY POWDER (NONHYGROSCOPIC) 

 -- WESTERN EUROPE :: 0725 - 0900 :: 0750 - 0900 :: 0775 - 0900 :: 827 : 979 

WHOLE MILK POWDER (26% BUTTERFAT) 

 -- OCEANIA :: 2850 - 2950 :: 2925 - 3025 :: 2925 - 3025 :: 2959 : 3193 

 -- SOUTH AMERICA :: 2850 - 3450 :: 2875 - 3450 :: 2900 - 3350 :: 3147 : 3104 

 -- WESTERN EUROPE :: 2900 - 3125 :: 2975 - 3150 :: 3050 - 3250 :: 3082 : 3284 

--------------------------------------------------------------------------------------------------------------

1 Prices for all products are issued biweekly and represent a value for the entire biweekly period. Monthly 

averages are based on biweekly prices and are time-weighted according to the number of workdays in the month -

Saturdays and Sundays excluded. No monthly average is computed if one or more biweekly prices are missing. 
25

CME GROUP AVERAGES FOR JANUARY 2018

 ::REPORT NUMBER 1 ::REPORT NUMBER 2 ::REPORT NUMBER 3 ::REPORT NUMBER 4 ::REPORT NUMBER 5 :: 2018 * : 2017 * 

 COMMODITY ::----------------::----------------::----------------::----------------::----------------:: Monthly : Monthly 

 :: JAN 2 - 5 :: JAN 8 - 12 :: JAN 16 - 19 :: JAN 22 - 26 :: JAN 29 - 31 :: Average : Average 

------------------------------------------------------------------------------------------------------------------------------------

 

 BUTTER* 

 

-- GRADE AA 

 --Monday :: 1 :: 2.1900 :: 2 :: 2.1200 :: 2.1300 :: : 

 --Tuesday :: 2.2075 :: 2.1800 :: 2.1600 :: 2.1150 :: 2.1425 :: : 

 --Wednesday :: 2.2200 :: 2.1675 :: 2.1500 :: 2.1200 :: 2.1425 :: : 

 --Thursday :: 2.2300 :: 2.1550 :: 2.1325 :: 2.1225 :: :: : 

 --Friday :: 2.2375 :: 2.1600 :: 2.1200 :: 2.1300 :: :: 2.1587 : 2.2393 

 

--Weekly Average** :: 2.2238 :: 2.1705 :: 2.1406 :: 2.1215 :: 

 

 CHEESE* 

 

-- BARRELS 

 --Monday :: 1 :: 1.3250 :: 2 :: 1.3650 :: 1.3200 :: : 

 --Tuesday :: 1.4275 :: 1.3000 :: 1.2750 :: 1.3650 :: 1.3200 :: : 

 --Wednesday :: 1.4000 :: 1.2950 :: 1.3225 :: 1.3600 :: 1.3200 :: : 

 --Thursday :: 1.3975 :: 1.2900 :: 1.3500 :: 1.3200 :: :: : 

 --Friday :: 1.3900 :: 1.2175 :: 1.3450 :: 1.3200 :: :: 1.3345 : 1.5573 

 

--Weekly Average** :: 1.4038 :: 1.2855 :: 1.3231 :: 1.3525 :: 

 

-- 40# BLOCKS 

 --Monday :: 1 :: 1.4900 :: 2 :: 1.5700 :: 1.4675 :: : 

 --Tuesday :: 1.5250 :: 1.4550 :: 1.4675 :: 1.5600 :: 1.4625 :: : 

 --Wednesday :: 1.5075 :: 1.4400 :: 1.5225 :: 1.4950 :: 1.4625 :: : 

 --Thursday :: 1.4950 :: 1.4375 :: 1.5500 :: 1.4750 :: :: : 

 --Friday :: 1.4950 :: 1.4550 :: 1.5650 :: 1.4725 :: :: 1.4938 : 1.6866 

 

--Weekly Average** :: 1.5056 :: 1.4555 :: 1.5263 :: 1.5145 :: 

 

NONFAT DRY MILK* 

-- GRADE A 

 --Monday :: 1 :: 0.6775 :: 2 :: 0.7075 :: 0.7050 :: : 

 --Tuesday :: 0.6700 :: 0.6700 :: 0.6900 :: 0.7175 :: 0.7050 :: : 

 --Wednesday :: 0.6700 :: 0.6650 :: 0.7075 :: 0.7175 :: 0.7050 :: : 

 --Thursday :: 0.6700 :: 0.6700 :: 0.7150 :: 0.7175 :: :: : 

 --Friday :: 0.6800 :: 0.6675 :: 0.7075 :: 0.7100 :: :: 0.6926 : 1.0043 

 

--Weekly Average** :: 0.6725 :: 0.6700 :: 0.7050 :: 0.7140 :: 

------------------------------------------------------------------------------------------------------------------------------------

* Monthly averages are a simple average of all the closes during the month. Weekly and monthly averages are independent 

calculations. 

** Weekly averages are simple averages of the closes during the calendar week and are for information purposes. Should the 

week be split between two months, the weekly average will appear in the monthly report in which the Friday close is reported. 

1/ CME closed for New Year holiday on January 1, 2018.

2/ CME closed for Martin Luther King Jr. holiday on January 15, 2018.
26

DAIRY MARKET NEWS DOMESTIC MONTHLY SUMMARY AND AVERAGES FOR FEBRUARY 20181 - (UNLESS OTHERWISE NOTED, PRICES ARE DOLLARS PER POUND, CL/TL)

 

 ::REPORT NUMBER 5 ::REPORT NUMBER 6 ::REPORT NUMBER 7 ::REPORT NUMBER 8 ::REPORT NUMBER 9 :: 2018 : 2017 

 COMMODITY ::-----------------::-----------------::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: FEB 1 - 2 :: FEB 5 - 9 :: FEB 12 - 16 :: FEB 19 - 23 :: FEB 26 - 28 :: Average : Average 

 

 CHEESE 

WISCONSIN (WSP, Delivered, LTL) 

-- Process American 5# Loaf :: 1.4375 - 1.7975 :: 1.4125 - 1.7725 :: 1.4500 - 1.8100 :: 1.4925 - 1.8525 :: 1.5700 - 1.9300 :: 1.6467 : 1.8732 

-- Brick And/Or Muenster 5# :: 1.8775 - 2.3025 :: 1.8275 - 2.2525 :: 1.8800 - 2.3050 :: 1.8800 - 2.3050 :: 1.8925 - 2.3175 :: 2.0804 : 2.2297 

-- Cheddar 40# Block :: 1.6050 - 2.0000 :: 1.5550 - 1.9500 :: 1.6075 - 2.0025 :: 1.6075 - 2.0025 :: 1.6200 - 2.0150 :: 1.7929 : 1.9422 

-- Monterey Jack 10# :: 1.8525 - 2.0575 :: 1.8025 - 2.0075 :: 1.8550 - 2.0600 :: 1.8550 - 2.0600 :: 1.8675 - 2.0725 :: 1.9454 : 2.0947 

-- Blue 5# :: 2.1450 - 3.1325 :: 2.0950 - 3.0825 :: 2.1475 - 3.1350 :: 2.1475 - 3.1350 :: 2.1600 - 3.1475 :: 2.6291 : 2.7785 

-- Mozzarella 5 - 6# :: 1.6775 - 2.6175 :: 1.6275 - 2.5675 :: 1.6800 - 2.6200 :: 1.6800 - 2.6200 :: 1.6925 - 2.6325 :: 2.1379 : 2.2872 

-- Grade A Swiss Cuts 6 - 9# :: 2.8200 - 2.9375 :: 2.8400 - 2.9575 :: 2.8400 - 2.9575 :: 2.8400 - 2.9575 :: 2.8400 - 2.9575 :: 2.8966 : 2.8523 

NORTHEAST (WSP, Delivered, LTL) 

-- Cheddar 40# Block :: 1.9700 - 2.2550 :: 1.9200 - 2.2050 :: 1.9725 - 2.2575 :: 1.9725 - 2.2575 :: 1.9850 - 2.2700 :: 2.1029 : 2.2547 

-- Process 5# Sliced :: 1.4825 - 1.9625 :: 1.4575 - 1.9375 :: 1.4950 - 1.9750 :: 1.5375 - 2.0175 :: 1.6150 - 2.0950 :: 1.7517 : 1.9757 

-- Muenster :: 1.9550 - 2.3050 :: 1.9050 - 2.2550 :: 1.9575 - 2.3075 :: 1.9575 - 2.3075 :: 1.9700 - 2.3200 :: 2.1204 : 2.2722 

-- Grade A Swiss Cuts 10 - 14# :: 3.3025 - 3.6250 :: 3.3225 - 3.6450 :: 3.3225 - 3.6450 :: 3.3225 - 3.6450 :: 3.3225 - 3.6450 :: 3.4816 : 3.4373 

WEST COAST (WSP, Delivered, LTL) 

-- Process 5# Loaf :: 1.4250 - 1.6825 :: 1.4000 - 1.6575 :: 1.4375 - 1.6950 :: 1.4800 - 1.7375 :: 1.5575 - 1.8150 :: 1.5830 : 1.8094 

-- Cheddar 40# Block :: 1.6375 - 2.0825 :: 1.5875 - 2.0325 :: 1.6400 - 2.0850 :: 1.6400 - 2.0850 :: 1.6525 - 2.0975 :: 1.8504 : 1.9997 

-- Cheddar 10# Cuts :: 1.8175 - 2.0375 :: 1.7675 - 1.9875 :: 1.8200 - 2.0400 :: 1.8200 - 2.0400 :: 1.8325 - 2.0525 :: 1.9179 : 2.0672 

-- Monterey Jack 10# :: 1.8275 - 1.9875 :: 1.7775 - 1.9375 :: 1.8300 - 1.9900 :: 1.8300 - 1.9900 :: 1.8425 - 2.0025 :: 1.8979 : 2.0472 

-- Grade A Swiss Cuts 6 - 9# :: 2.8800 - 3.3100 :: 2.9000 - 3.3300 :: 2.9000 - 3.3300 :: 2.9000 - 3.3300 :: 2.9000 - 3.3300 :: 3.1129 : 3.0686 

 

 

 FLUID PRODUCTS 

SPOT PRICES OF CLASS II CREAM ($ per lb. butterfat) 

 -- Northeast - f.o.b :: 2.1215 - 2.5458 :: 2.1305 - 2.5566 :: 2.0675 - 2.4190 :: 2.0955 - 2.5146 :: 2.4904 - 2.6853 :: 2.3466 : 2.2658 

 -- Upper Midwest - f.o.b :: 2.3761 - 2.5458 :: 2.4288 - 2.5566 :: 2.3363 - 2.4397 :: 2.4098 - 2.5565 :: 2.5554 - 2.6853 :: 2.4800 : 2.4132 

PRICES OF CONDENSED SKIM - NORTHEAST ($ per lb. wet solids) - f.o.b. 

 -- Class II :: 0.65 - 0.80 :: 0.65 - 0.80 :: 0.65 - 0.80 :: 0.65 - 0.80 :: 0.50 - 0.80 :: 0.7132 : 0.6945 

 -- Class III :: 0.55 - 0.97 :: 0.55 - 0.97 :: 0.55 - 0.97 :: 0.55 - 0.97 :: 0.55 - 0.85 :: 0.7505 : 0.6366 
27

DAIRY MARKET NEWS DOMESTIC MONTHLY SUMMARY AND AVERAGES FOR FEBRUARY 20181 - (UNLESS OTHERWISE NOTED, PRICES ARE DOLLARS PER POUND, CL/TL)

 

 ::REPORT NUMBER 5 ::REPORT NUMBER 6 ::REPORT NUMBER 7 ::REPORT NUMBER 8 ::REPORT NUMBER 9 :: 2018 : 2017 

 COMMODITY ::-----------------::-----------------::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: FEB 1 - 2 :: FEB 5 - 9 :: FEB 12 - 16 :: FEB 19 - 23 :: FEB 26 - 28 :: Average : Average 

 

 DRY PRODUCTS 

NONFAT DRY MILK 

-- Central And East (f.o.b.) 

 -- Low/Medium Heat :: 0.6500 - 0.7500 :: 0.6900 - 0.7650 :: 0.6900 - 0.7600 :: 0.6850 - 0.7600 :: 0.6800 - 0.7600 :: 0.7217 : 0.9721 

 -- Mostly :: 0.6900 - 0.7250 :: 0.7100 - 0.7400 :: 0.7100 - 0.7400 :: 0.7200 - 0.7400 :: 0.7200 - 0.7400 :: 0.7250 : 0.9882 

 -- High Heat :: 0.8500 - 0.9800 :: 0.8500 - 0.9400 :: 0.8500 - 0.9400 :: 0.8500 - 0.9500 :: 0.8500 - 0.9800 :: 0.9013 : 1.1114 

-- West (f.o.b) 

 -- Low/Medium Heat :: 0.6400 - 0.7600 :: 0.6400 - 0.7875 :: 0.6750 - 0.7850 :: 0.6550 - 0.7875 :: 0.6175 - 0.7800 :: 0.7158 : 0.9455 

 -- Mostly :: 0.6800 - 0.7300 :: 0.7000 - 0.7500 :: 0.7000 - 0.7500 :: 0.7000 - 0.7500 :: 0.6900 - 0.7500 :: 0.7221 : 0.9758 

 -- High Heat :: 0.8500 - 0.9450 :: 0.8500 - 1.0000 :: 0.8500 - 0.9650 :: 0.8600 - 0.9700 :: 0.8600 - 0.9450 :: 0.9118 : 1.1116 

WHEY POWDER (Nonhygroscopic) 

 -- Central (f.o.b.) :: 0.1800 - 0.2900 :: 0.1900 - 0.2800 :: 0.1900 - 0.2700 :: 0.1900 - 0.2600 :: 0.2150 - 0.3300 :: 0.2375 : 0.4876 

 -- Mostly :: 0.2100 - 0.2700 :: 0.2200 - 0.2600 :: 0.2200 - 0.2600 :: 0.2200 - 0.2500 :: 0.2200 - 0.2500 :: 0.2382 : 0.4684 

 -- West (f.o.b.) :: 0.2000 - 0.3000 :: 0.2000 - 0.3100 :: 0.2000 - 0.3100 :: 0.2000 - 0.2950 :: 0.2100 - 0.3200 :: 0.2545 : 0.5009 

 -- Mostly :: 0.2200 - 0.2600 :: 0.2200 - 0.2600 :: 0.2200 - 0.2600 :: 0.2200 - 0.2600 :: 0.2200 - 0.2800 :: 0.2416 : 0.4938 

 -- Northeast (f.o.b.) :: 0.2500 - 0.3125 :: 0.2500 - 0.3100 :: 0.2500 - 0.3100 :: 0.2500 - 0.2950 :: 0.2500 - 0.2925 :: 0.2772 : 0.4896 

WHEY PROTEIN CONCENTRATE 

-- Central And West (f.o.b.) 

 -- Extra Grade 34% Protein :: 0.5900 - 0.9400 :: 0.5900 - 0.9400 :: 0.5900 - 0.9400 :: 0.5900 - 0.9400 :: 0.5900 - 0.9400 :: 0.7650 : 1.0064 

 -- Mostly :: 0.6700 - 0.7800 :: 0.6700 - 0.7800 :: 0.6700 - 0.7800 :: 0.6700 - 0.7800 :: 0.6400 - 0.7600 :: 0.7211 : 0.9905 

ANIMAL FEED - WHEY 

-- Central (f.o.b.) 

 -- Milk Replacer :: 0.1500 - 0.2300 :: 0.1500 - 0.2300 :: 0.1500 - 0.2300 :: 0.1500 - 0.2300 :: 0.1500 - 0.2150 :: 0.1888 : 0.4002 

BUTTERMILK (Min. 30% protein) 

-- Central And East (f.o.b.) :: 0.6350 - 0.8100 :: 0.6500 - 0.8000 :: 0.6700 - 0.7900 :: 0.6700 - 0.7900 :: 0.6700 - 0.8000 :: 0.7287 : 0.9742 

-- West (f.o.b.) :: 0.6800 - 0.8000 :: 0.6800 - 0.8000 :: 0.6800 - 0.8000 :: 0.6800 - 0.7500 :: 0.6800 - 0.7700 :: 0.7324 : 1.0003 

 -- Mostly :: 0.7000 - 0.7300 :: 0.7000 - 0.7300 :: 0.7000 - 0.7300 :: 0.7000 - 0.7300 :: 0.7000 - 0.7300 :: 0.7150 : 1.0000 

DRY WHOLE MILK 

-- National (f.o.b.) :: 1.3500 - 1.5000 :: 1.4100 - 1.4800 :: 1.4000 - 1.5000 :: 1.4000 - 1.5000 :: 1.4000 - 1.5000 :: 1.4461 : 1.4950 

LACTOSE 

-- Central And West (f.o.b.) :: 0.1800 - 0.3500 :: 0.1700 - 0.3500 :: 0.1700 - 0.3500 :: 0.1400 - 0.3500 :: 0.1600 - 0.3500 :: 0.2566 : 0.4100 

 -- Mostly :: 0.1900 - 0.2450 :: 0.1900 - 0.2450 :: 0.1900 - 0.2450 :: 0.1900 - 0.2450 :: 0.1700 - 0.2450 :: 0.2159 : 0.3750 

CASEIN - Edible - National (f.o.b.) 

 -- Nonrestricted - Rennet :: 2.0850 - 2.1425 :: 2.2000 - 2.2800 :: 2.2300 - 2.2900 :: 2.2300 - 2.2900 :: 2.2250 - 2.2850 :: 2.2386 : 2.9601 

 -- Nonrestricted - Acid :: 2.9500 - 3.3000 :: 2.9900 - 3.3400 :: 2.9900 - 3.3500 :: 2.9900 - 3.3500 :: 2.9900 - 3.3500 :: 3.1639 : 3.0519 

---------------------------------------------------------------------------------------------------------------------------------------------------------

1 Prices for all products are issued once a week and represent a value for the entire week. Monthly averages are based on weekly prices and are 

time-weighted according to the number of workdays in the month - Saturdays, Sundays and National Holidays excluded. No monthly average is computed if 

one or more weekly prices are missing. 
28

 DAIRY MARKET NEWS INTERNATIONAL MONTHLY SUMMARY AND AVERAGES FOR FEBRUARY 20181 

 (UNLESS OTHERWISE NOTED, PRICES ARE U.S.DOLLARS/METRIC TON, F.O.B. PORT) 

 

 ::REPORT NUMBER 5 ::REPORT NUMBER 7 ::REPORT NUMBER 9 :: 2018 * : 2017 * 

 COMMODITY ::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: FEB 1 - 2 :: FEB 5 - 16 :: FEB 19 - 28 :: Average : Average 

--------------------------------------------------------------------------------------------------------------

 

BUTTER (82% BUTTERFAT) 

 -- OCEANIA :: 4550 - 5025 :: 5250 - 5350 :: 5300 - 5450 :: 5279 : 4550 

 -- WESTERN EUROPE :: 4975 - 5225 :: 5175 - 5675 :: 5800 - 6250 :: 5633 : 4321 

BUTTEROIL (99% BUTTERFAT) 

 -- WESTERN EUROPE :: 6325 - 7400 :: 6300 - 7100 :: 6350 - 7325 :: 6771 : 4919 

CHEDDAR CHEESE (39% MAXIMUM MOISTURE) 

 -- OCEANIA :: 3375 - 3550 :: 3700 - 3950 :: 3575 - 3750 :: 3724 : 3847 

SKIM MILK POWDER (1.25% BUTTERFAT) 

 -- OCEANIA :: 1775 - 1850 :: 1875 - 2350 :: 1750 - 1975 :: 1983 : 2490 

 -- SOUTH AMERICA :: 2450 - 2650 :: 2450 - 2700 :: 2350 - 2600 :: 2533 : 2620 

 -- WESTERN EUROPE :: 1675 - 1775 :: 1630 - 1750 :: 1575 - 1725 :: 1678 : 2088 

WHEY POWDER (NONHYGROSCOPIC) 

 -- WESTERN EUROPE :: 775 - 900 :: 800 - 925 :: 875 - 925 :: 875 : 1077 

WHOLE MILK POWDER (26% BUTTERFAT) 

 -- OCEANIA :: 2925 - 3025 :: 3200 - 3250 :: 3225 - 3275 :: 3210 : 3279 

 -- SOUTH AMERICA :: 2900 - 3350 :: 3000 - 3450 :: 3050 - 3350 :: 3205 : 3169 

 -- WESTERN EUROPE :: 3050 - 3250 :: 3100 - 3275 :: 3125 - 3275 :: 3189 : 3199 

--------------------------------------------------------------------------------------------------------------

1 Prices for all products are issued biweekly and represent a value for the entire biweekly period. Monthly 

averages are based on biweekly prices and are time-weighted according to the number of workdays in the month -

Saturdays and Sundays excluded. No monthly average is computed if one or more biweekly prices are missing. 
29

CME GROUP AVERAGES FOR FEBRUARY 2018

 ::REPORT NUMBER 5 ::REPORT NUMBER 6 ::REPORT NUMBER 7 ::REPORT NUMBER 8 ::REPORT NUMBER 9 :: 2018 * : 2017 * 

 COMMODITY ::----------------::----------------::----------------::----------------::----------------:: Monthly : Monthly 

 :: FEB 1 - 2 :: FEB 5 - 9 :: FEB 12 - 16 :: FEB 20 - 23 :: FEB 26 - 28 :: Average : Average 

------------------------------------------------------------------------------------------------------------------------------------

 

 BUTTER* 

 

-- GRADE AA 

 --Monday :: :: 2.0800 :: 2.0300 :: 1

 :: 2.2250 :: : 

 --Tuesday :: :: 2.0850 :: 2.0625 :: 2.1400 :: 2.1825 :: : 

 --Wednesday :: :: 2.0750 :: 2.1350 :: 2.1900 :: 2.1775 :: : 

 --Thursday :: 2.1225 :: 2.0700 :: 2.1500 :: 2.1600 :: :: : 

 --Friday :: 2.1150 :: 2.0275 :: 2.1000 :: 2.1725 :: :: 2.1211 : 2.1534 

 

--Weekly Average** :: 2.1305 :: 2.0675 :: 2.0955 :: 2.1656 :: :: : 

 

 CHEESE* 

 

-- BARRELS 

 --Monday :: :: 1.3650 :: 1.3600 :: 1

 :: 1.4700 :: : 

 --Tuesday :: :: 1.3700 :: 1.3625 :: 1.4825 :: 1.4700 :: : 

 --Wednesday :: :: 1.3500 :: 1.3900 :: 1.4850 :: 1.4700 :: : 

 --Thursday :: 1.3225 :: 1.3500 :: 1.4200 :: 1.4900 :: :: : 

 --Friday :: 1.3250 :: 1.3600 :: 1.4800 :: 1.4600 :: :: 1.4096 : 1.6230 

 

--Weekly Average** :: 1.3215 :: 1.3590 :: 1.4025 :: 1.4794 :: :: : 

 

-- 40# BLOCKS 

 --Monday :: :: 1.5175 :: 1.5025 :: 1

 :: 1.5250 :: : 

 --Tuesday :: :: 1.5175 :: 1.5100 :: 1.5450 :: 1.5300 :: : 

 --Wednesday :: :: 1.5200 :: 1.5100 :: 1.5500 :: 1.5300 :: : 

 --Thursday :: 1.4625 :: 1.5200 :: 1.5250 :: 1.5250 :: :: : 

 --Friday :: 1.4625 :: 1.5100 :: 1.5400 :: 1.4950 :: :: 1.5157 : 1.6199 

 

--Weekly Average** :: 1.4635 :: 1.5170 :: 1.5175 :: 1.5288 :: :: : 

 

 NONFAT DRY MILK* 

 

-- GRADE A 

 --Monday :: :: 0.7375 :: 0.7350 :: 1

 :: 0.6800 :: : 

 --Tuesday :: :: 0.7425 :: 0.7300 :: 0.6825 :: 0.6725 :: : 

 --Wednesday :: :: 0.7350 :: 0.7300 :: 0.6850 :: 0.6725 :: : 

 --Thursday :: 0.7100 :: 0.7375 :: 0.7275 :: 0.6725 :: :: : 

 --Friday :: 0.7225 :: 0.7350 :: 0.7050 :: 0.6725 :: :: 0.7097 : 0.9000 

 

--Weekly Average** :: 0.7095 :: 0.7375 :: 0.7255 :: 0.6781 :: :: : 

 

------------------------------------------------------------------------------------------------------------------------------------

* Monthly averages are a simple average of all the closes during the month. Weekly and monthly averages are independent 

calculations. 

** Weekly averages are simple averages of the closes during the calendar week and are for information purposes. Should the 

week be split between two months, the weekly average will appear in the monthly report in which the Friday close is reported. 

1/ CME closed for federal holiday.
30

DAIRY MARKET NEWS DOMESTIC MONTHLY SUMMARY AND AVERAGES FOR MARCH 20181 - (UNLESS OTHERWISE NOTED, PRICES ARE DOLLARS PER POUND, CL/TL)

 

 ::REPORT NUMBER 9 ::REPORT NUMBER 10 ::REPORT NUMBER 11 ::REPORT NUMBER 12 ::REPORT NUMBER 13 :: 2018 : 2017 

 COMMODITY ::-----------------::-----------------::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: MAR 1 – 2 :: MAR 5 – 9 :: MAR 12 - 16 :: MAR 19 - 23 :: MAR 26 - 30 :: Average : Average 

 

 CHEESE 

WISCONSIN (WSP, Delivered, LTL) 

-- Process American 5# Loaf :: 1.5700 - 1.9300 :: 1.5625 - 1.9225 :: 1.6000 - 1.9600 :: 1.6175 - 1.9775 :: 1.6150 - 1.9750 :: 1.7761 : 1.7074 

-- Brick And/Or Muenster 5# :: 1.8925 - 2.3175 :: 1.8975 - 2.3225 :: 1.9450 - 2.3700 :: 1.9300 - 2.3550 :: 1.9225 - 2.3475 :: 2.1334 : 2.0279 

-- Cheddar 40# Block :: 1.6200 - 2.0150 :: 1.6250 - 2.0200 :: 1.6725 - 2.0675 :: 1.6575 - 2.0525 :: 1.6500 - 2.0450 :: 1.8459 : 1.7404 

-- Monterey Jack 10# :: 1.8675 - 2.0725 :: 1.8725 - 2.0775 :: 1.9200 - 2.1250 :: 1.9050 - 2.1100 :: 1.8975 - 2.1025 :: 1.9984 : 1.8929 

-- Blue 5# :: 2.1600 - 3.1475 :: 2.1650 - 3.1525 :: 2.2125 - 3.2000 :: 2.1975 - 3.1850 :: 2.1900 - 3.1775 :: 2.6822 : 2.5767 

-- Mozzarella 5 - 6# :: 1.6925 - 2.6325 :: 1.6975 - 2.6375 :: 1.7450 - 2.6850 :: 1.7300 - 2.6700 :: 1.7225 - 2.6625 :: 2.1909 : 2.0854 

-- Grade A Swiss Cuts 6 - 9# :: 2.8400 - 2.9575 :: 2.6800 - 2.7975 :: 2.6800 - 2.7975 :: 2.6800 - 2.7975 :: 2.6800 - 2.7975 :: 2.7533 : 2.9471 

NORTHEAST (WSP, Delivered, LTL) 

-- Cheddar 40# Block :: 1.9850 - 2.2700 :: 1.9900 - 2.2750 :: 2.0375 - 2.3225 :: 2.0225 - 2.3075 :: 2.0150 - 2.3000 :: 2.1559 : 2.0529 

-- Process 5# Sliced :: 1.6150 - 2.0950 :: 1.6075 - 2.0875 :: 1.6450 - 2.1250 :: 1.6625 - 2.1425 :: 1.6600 - 2.1400 :: 1.8811 : 1.8099 

-- Muenster :: 1.9700 - 2.3200 :: 1.9750 - 2.3250 :: 2.0225 - 2.3725 :: 2.0075 - 2.3575 :: 2.0000 - 2.3500 :: 2.1734 : 2.0704 

-- Grade A Swiss Cuts 10 - 14# :: 3.3225 - 3.6450 :: 3.1625 - 3.4850 :: 3.1625 - 3.4850 :: 3.1625 - 3.4850 :: 3.1625 - 3.4850 :: 3.3383 : 3.5321 

WEST COAST (WSP, Delivered, LTL) 

-- Process 5# Loaf :: 1.5575 - 1.8150 :: 1.5500 - 1.8075 :: 1.5875 - 1.8450 :: 1.6050 - 1.8625 :: 1.6025 - 1.8600 :: 1.7124 : 1.6436 

-- Cheddar 40# Block :: 1.6525 - 2.0975 :: 1.6575 - 2.1025 :: 1.7050 - 2.1500 :: 1.6900 - 2.1350 :: 1.6825 - 2.1275 :: 1.9034 : 1.7979 

-- Cheddar 10# Cuts :: 1.8325 - 2.0525 :: 1.8375 - 2.0575 :: 1.8850 - 2.1050 :: 1.8700 - 2.0900 :: 1.8625 - 2.0825 :: 1.9709 : 1.8654 

-- Monterey Jack 10# :: 1.8425 - 2.0025 :: 1.8475 - 2.0075 :: 1.8950 - 2.0550 :: 1.8800 - 2.0400 :: 1.8725 - 2.0325 :: 1.9509 : 1.8454 

-- Grade A Swiss Cuts 6 - 9# :: 2.9000 - 3.3300 :: 2.7400 - 3.1700 :: 2.7400 - 3.1700 :: 2.7400 - 3.1700 :: 2.7400 - 3.1700 :: 2.9695 : 3.1634 

 

 

 FLUID PRODUCTS 

SPOT PRICES OF CLASS II CREAM ($ per lb. butterfat) 

 -- Northeast - f.o.b :: 2.4904 - 2.6853 :: 2.5000 - 2.7851 :: 2.5280 - 2.9271 :: 2.6556 - 2.8769 :: 2.5576 - 2.7544 :: 2.6881 : 2.3671 

 -- Upper Midwest - f.o.b :: 2.5554 - 2.6853 :: 2.6316 - 2.7413 :: 2.6610 - 2.7719 :: 2.6556 - 2.7884 :: 2.5795 - 2.7325 :: 2.6884 : 2.4250 

PRICES OF CONDENSED SKIM - NORTHEAST ($ per lb. wet solids) - f.o.b. 

 -- Class II :: 0.50 - 0.80 :: 0.50 - 0.80 :: 0.50 - 0.80 :: 0.50 - 0.80 :: 0.50 - 0.80 :: 0.6500 : 0.6213 

 -- Class III :: 0.55 - 0.85 :: 0.55 - 0.85 :: 0.55 - 0.85 :: 0.55 - 0.85 :: 0.55 - 0.85 :: 0.7000 : 0.6039 
31

DAIRY MARKET NEWS DOMESTIC MONTHLY SUMMARY AND AVERAGES FOR MARCH 20181 - (UNLESS OTHERWISE NOTED, PRICES ARE DOLLARS PER POUND, CL/TL)

 

 ::REPORT NUMBER 9 ::REPORT NUMBER 10 ::REPORT NUMBER 11 ::REPORT NUMBER 12 ::REPORT NUMBER 13 :: 2018 : 2017 

 COMMODITY ::-----------------::-----------------::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: MAR 1 – 2 :: MAR 5 - 9 :: MAR 12 - 16 :: MAR 19 - 23 :: MAR 26 - 30 :: Average : Average 

 

 DRY PRODUCTS 

NONFAT DRY MILK 

-- Central And East (f.o.b.) 

 -- Low/Medium Heat :: 0.6800 - 0.7600 :: 0.6800 - 0.7550 :: 0.6800 - 0.7600 :: 0.6800 - 0.7550 :: 0.6800 - 0.7550 :: 0.7183 : 0.8838 

 -- Mostly :: 0.7200 - 0.7400 :: 0.7000 - 0.7400 :: 0.7000 - 0.7400 :: 0.6900 - 0.7400 :: 0.6900 - 0.7400 :: 0.7186 : 0.8570 

 -- High Heat :: 0.8500 - 0.9800 :: 0.8300 - 0.9800 :: 0.8200 - 0.9800 :: 0.8200 - 0.9800 :: 0.8150 - 0.9800 :: 0.9019 : 1.0614 

-- West (f.o.b) 

 -- Low/Medium Heat :: 0.6175 - 0.7800 :: 0.6150 - 0.7500 :: 0.6350 - 0.7500 :: 0.6350 - 0.7550 :: 0.6425 - 0.7550 :: 0.6928 : 0.8497 

 -- Mostly :: 0.6900 - 0.7500 :: 0.6500 - 0.7200 :: 0.6800 - 0.7200 :: 0.6700 - 0.7300 :: 0.6700 - 0.7300 :: 0.6984 : 0.8578 

 -- High Heat :: 0.8600 - 0.9450 :: 0.8500 - 0.9400 :: 0.8500 - 0.9500 :: 0.8500 - 0.9300 :: 0.8500 - 0.9300 :: 0.8945 : 1.0467 

WHEY POWDER (Nonhygroscopic) 

 -- Central (f.o.b.) :: 0.2150 - 0.3300 :: 0.2000 - 0.3100 :: 0.2000 - 0.3100 :: 0.2100 - 0.3100 :: 0.2000 - 0.3100 :: 0.2577 : 0.4908 

 -- Mostly :: 0.2200 - 0.2500 :: 0.2200 - 0.2500 :: 0.2150 - 0.2650 :: 0.2150 - 0.2650 :: 0.2150 - 0.2650 :: 0.2384 : 0.4869 

 -- West (f.o.b.) :: 0.2100 - 0.3200 :: 0.2100 - 0.3200 :: 0.2100 - 0.3300 :: 0.2100 - 0.3300 :: 0.2200 - 0.3200 :: 0.2684 : 0.5078 

 -- Mostly :: 0.2200 - 0.2800 :: 0.2200 - 0.2800 :: 0.2200 - 0.2875 :: 0.2200 - 0.2875 :: 0.2350 - 0.2875 :: 0.2543 : 0.4935 

 -- Northeast (f.o.b.) :: 0.2500 - 0.2925 :: 0.2500 - 0.2900 :: 0.2500 - 0.2900 :: 0.2500 - 0.2900 :: 0.2500 - 0.2900 :: 0.2701 : 0.4898 

WHEY PROTEIN CONCENTRATE 

-- Central And West (f.o.b.) 

 -- Extra Grade 34% Protein :: 0.5900 - 0.9400 :: 0.6000 - 0.9400 :: 0.6300 - 0.9400 :: 0.6300 - 0.9400 :: 0.5900 - 0.9400 :: 0.7752 : 1.0085 

 -- Mostly :: 0.6400 - 0.7600 :: 0.6400 - 0.7600 :: 0.6400 - 0.7600 :: 0.6400 - 0.7500 :: 0.6250 - 0.7500 :: 0.6960 : 0.9681 

ANIMAL FEED - WHEY 

-- Central (f.o.b.) 

 -- Milk Replacer :: 0.1500 - 0.2150 :: 0.1500 - 0.2150 :: 0.1500 - 0.2150 :: 0.1500 - 0.2200 :: 0.1500 - 0.2200 :: 0.1836 : 0.4055 

BUTTERMILK (Min. 30% protein) 

-- Central And East (f.o.b.) :: 0.6700 - 0.8000 :: 0.6700 - 0.7900 :: 0.6000 - 0.7900 :: 0.6000 - 0.7900 :: 0.6700 - 0.7800 :: 0.7134 : 0.9291 

-- West (f.o.b.) :: 0.6800 - 0.7700 :: 0.6800 - 0.7700 :: 0.6800 - 0.7700 :: 0.6800 - 0.7800 :: 0.6600 - 0.7800 :: 0.7250 : 0.9346 

 -- Mostly :: 0.7000 - 0.7300 :: 0.6900 - 0.7200 :: 0.6900 - 0.7200 :: 0.6800 - 0.7200 :: 0.6800 - 0.7200 :: 0.7036 : 0.9457 

DRY WHOLE MILK 

-- National (f.o.b.) :: 1.4000 - 1.5000 :: 1.4000 - 1.5000 :: 1.4400 - 1.5100 :: 1.4400 - 1.5100 :: 1.4400 - 1.5100 :: 1.4670 : 1.4467 

LACTOSE 

-- Central And West (f.o.b.) :: 0.1600 - 0.3500 :: 0.1650 - 0.3500 :: 0.1700 - 0.3500 :: 0.1700 - 0.3900 :: 0.1650 - 0.3900 :: 0.2675 : 0.4111 

 -- Mostly :: 0.1700 - 0.2450 :: 0.1800 - 0.2450 :: 0.1900 - 0.2450 :: 0.2000 - 0.2500 :: 0.2000 - 0.2600 :: 0.2200 : 0.3826 

CASEIN - Edible - National (f.o.b.) 

 -- Nonrestricted - Rennet :: 2.2250 - 2.2850 :: 2.3275 - 2.4225 :: 2.3300 - 2.4225 :: 2.2325 - 2.3225 :: 2.2200 - 2.3100 :: 2.3172 : 3.0016 

 -- Nonrestricted - Acid :: 2.9900 - 3.3500 :: 3.0200 - 3.3500 :: 3.0300 - 3.3500 :: 3.0100 - 3.3100 :: 3.0000 - 3.2900 :: 3.1700 : 3.5630 

---------------------------------------------------------------------------------------------------------------------------------------------------------

1 Prices for all products are issued once a week and represent a value for the entire week. Monthly averages are based on weekly prices and are 

time-weighted according to the number of workdays in the month - Saturdays, Sundays and National Holidays excluded. No monthly average is computed if 

one or more weekly prices are missing. 
32

 DAIRY MARKET NEWS INTERNATIONAL MONTHLY SUMMARY AND AVERAGES FOR MARCH 2018

 (UNLESS OTHERWISE NOTED, PRICES ARE U.S.DOLLARS/METRIC TON, F.O.B. PORT) 

 

 ::REPORT NUMBER 9 ::REPORT NUMBER 11 ::REPORT NUMBER 13 :: 2018 * : 2017 * 

 COMMODITY ::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: MAR 1 – 2 :: MAR 5 - 16 :: MAR 19 - 30 :: Average : Average 

--------------------------------------------------------------------------------------------------------------

 

BUTTER (82% BUTTERFAT) 

 -- OCEANIA :: 5300 - 5450 :: 5275 - 5375 :: 5250 - 5300 :: 5307 : 4936 

 -- WESTERN EUROPE :: 5800 - 6250 :: 5850 - 6075 :: 5825 - 6200 :: 5991 : 4551 

BUTTEROIL (99% BUTTERFAT) 

 -- WESTERN EUROPE :: 6350 - 7325 :: 6625 - 6850 :: 6625 - 7200 :: 6826 : 5193 

CHEDDAR CHEESE (39% MAXIMUM MOISTURE) 

 -- OCEANIA :: 3575 - 3750 :: 3700 - 3925 :: 3550 - 3700 :: 3714 : 3642 

SKIM MILK POWDER (1.25% BUTTERFAT) 

 -- OCEANIA :: 1750 - 1975 :: 1750 - 1975 :: 1900 - 1975 :: 1897 : 2148 

 -- SOUTH AMERICA :: 2350 - 2600 :: 2250 - 2500 :: 2200 - 2450 :: 2361 : 2762 

 -- WESTERN EUROPE :: 1575 - 1725 :: 1550 - 1675 :: 1525 - 1675 :: 1610 : 1913 

WHEY POWDER (NONHYGROSCOPIC) 

 -- WESTERN EUROPE :: 875 - 925 :: 800 - 975 :: 900 - 975 :: 911 : 1116 

WHOLE MILK POWDER (26% BUTTERFAT) 

 -- OCEANIA :: 3225 - 3275 :: 3200 - 3275 :: 3200 - 3250 :: 3233 : 3016 

 -- SOUTH AMERICA :: 3050 - 3350 :: 3100 - 3375 :: 3100 - 3350 :: 3228 : 3226 

 -- WESTERN EUROPE :: 3125 - 3275 :: 3150 - 3300 :: 3125 - 3300 :: 3217 : 3015 

--------------------------------------------------------------------------------------------------------------

1 Prices for all products are issued biweekly and represent a value for the entire biweekly period. Monthly 

averages are based on biweekly prices and are time-weighted according to the number of workdays in the month -

Saturdays and Sundays excluded. No monthly average is computed if one or more biweekly prices are missing. 
33

CME GROUP AVERAGES FOR MARCH 2018

 ::REPORT NUMBER 9 ::REPORT NUMBER 10::REPORT NUMBER 11::REPORT NUMBER 12::REPORT NUMBER 13:: 2018 * : 2017 * 

 COMMODITY ::----------------::----------------::----------------::----------------::----------------:: Monthly : Monthly 

 :: MAR 1 - 2 :: MAR 5 - 9 :: MAR 12 - 16 :: MAR 19 - 23 :: MAR 26 - 29 :: Average : Average 

------------------------------------------------------------------------------------------------------------------------------------

 

 BUTTER* 

 

-- GRADE AA 

 --Monday :: :: 2.2025 :: 2.2050 :: 2.1825 :: 2.1800 :: : 

 --Tuesday :: :: 2.2325 :: 2.2150 :: 2.1825 :: 2.1800 :: : 

 --Wednesday :: :: 2.2300 :: 2.2175 :: 2.1875 :: 2.1850 :: : 

 --Thursday :: 2.1800 :: 2.2175 :: 2.2175 :: 2.1875 :: 2.2150 :: : 

 --Friday :: 2.2000 :: 2.2050 :: 2.2100 :: 2.1900 :: 1 :: 2.2011 : 2.1392 

 

--Weekly Average** :: 2.1930 :: 2.2175 :: 2.2130 :: 2.1860 :: 2.1900 :: : 

 

 CHEESE* 

 

-- BARRELS 

 --Monday :: :: 1.5125 :: 1.5000 :: 1.5600 :: 1.5000 :: : 

 --Tuesday :: :: 1.5150 :: 1.5000 :: 1.5175 :: 1.5000 :: : 

 --Wednesday :: :: 1.5100 :: 1.5250 :: 1.5125 :: 1.4750 :: : 

 --Thursday :: 1.4725 :: 1.5100 :: 1.5450 :: 1.5125 :: 1.4400 :: : 

 --Friday :: 1.4750 :: 1.4975 :: 1.5600 :: 1.5100 :: 1 :: 1.5071 : 1.4072 

 

--Weekly Average** :: 1.4715 :: 1.5090 :: 1.5260 :: 1.5225 :: 1.4788 :: : 

 

-- 40# BLOCKS 

 --Monday :: :: 1.6025 :: 1.5500 :: 1.5825 :: 1.5450 :: : 

 --Tuesday :: :: 1.6025 :: 1.5400 :: 1.5425 :: 1.5450 :: : 

 --Wednesday :: :: 1.5600 :: 1.5750 :: 1.5650 :: 1.5300 :: : 

 --Thursday :: 1.5300 :: 1.5800 :: 1.5850 :: 1.5650 :: 1.5300 :: : 

 --Friday :: 1.5600 :: 1.5700 :: 1.5850 :: 1.5450 :: 1 :: 1.5614 : 1.4342 

 

--Weekly Average** :: 1.5350 :: 1.5830 :: 1.5670 :: 1.5600 :: 1.5375 :: : 

 

 NONFAT DRY MILK* 

 

-- GRADE A 

 --Monday :: :: 0.6500 :: 0.6925 :: 0.6900 :: 0.6925 :: : 

 --Tuesday :: :: 0.6475 :: 0.6950 :: 0.6875 :: 0.6975 :: : 

 --Wednesday :: :: 0.6475 :: 0.6900 :: 0.6900 :: 0.6975 :: : 

 --Thursday :: 0.6725 :: 0.6475 :: 0.6875 :: 0.6925 :: 0.6900 :: : 

 --Friday :: 0.6625 :: 0.6850 :: 0.6900 :: 0.6925 :: 1 :: 0.6808 : 0.8080 

 

--Weekly Average** :: 0.6720 :: 0.6555 :: 0.6910 :: 0.6905 :: 0.6944 :: : 

 

 WHEY* 

 

-- EXTRA GRADE 2

 

 --Monday :: :: :: 0.2600 :: 0.2925 :: 0.2875 :: : 

 --Tuesday :: :: :: 0.2625 :: 0.2925 :: 0.2900 :: : 

 --Wednesday :: :: :: 0.2800 :: 0.2925 :: 0.2900 :: : 

 --Thursday :: :: :: 0.2875 :: 0.2875 :: 0.2850 :: : 

 --Friday :: :: :: 0.2925 :: 0.2875 :: 1 :: 3 : 

 

--Weekly Average** :: :: :: 0.2765 :: 0.2905 :: 0.2881 :: : 

 

------------------------------------------------------------------------------------------------------------------------------------

* Monthly averages are a simple average of all the closes during the month. Weekly and monthly averages are independent 

calculations. 

**Weekly averages are simple averages of the closes during the calendar week and are for information purposes. Should the 

week be split between two months, the weekly average will appear in the monthly report in which the Friday close is reported. 

1/ CME Closed for holiday.

2/ Trading on the CME Group for Extra Grade Whey began March 12.

3/ Because Extra Grade Whey was not traded for a full month, no monthly average was calculated
34

DAIRY MARKET NEWS DOMESTIC MONTHLY SUMMARY AND AVERAGES FOR APRIL 20181 - (UNLESS OTHERWISE NOTED, PRICES ARE DOLLARS PER POUND, CL/TL)

 

 ::REPORT NUMBER 14 ::REPORT NUMBER 15 ::REPORT NUMBER 16 ::REPORT NUMBER 17 ::REPORT NUMBER 18 :: 2018 : 2017 

 COMMODITY ::-----------------::-----------------::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: APR 2 - 6 :: APR 9 - 13 :: APR 16 - 20 :: APR 23 - 27 :: APR 30 :: Average : Average 

 

 CHEESE 

 

WISCONSIN (WSP, Delivered, LTL) 

-- Process American 5# Loaf :: 1.5725 - 1.9325 :: 1.5400 - 1.9000 :: 1.5625 - 1.9225 :: 1.5725 - 1.9325 :: 1.5775 - 1.9375 :: 1.7426 : 1.7013 

-- Brick And/Or Muenster 5# :: 1.9000 - 2.3250 :: 1.9200 - 2.3450 :: 1.9825 - 2.4075 :: 1.9825 - 2.4075 :: 1.9825 - 2.4075 :: 2.1605 : 2.0594 

-- Cheddar 40# Block :: 1.6275 - 2.0225 :: 1.6475 - 2.0425 :: 1.7100 - 2.1050 :: 1.7100 - 2.1050 :: 1.7100 - 2.1050 :: 1.8730 : 1.7719 

-- Monterey Jack 10# :: 1.8750 - 2.0800 :: 1.8950 - 2.1000 :: 1.9575 - 2.1625 :: 1.9575 - 2.1625 :: 1.9575 - 2.1625 :: 2.0255 : 1.9244 

-- Blue 5# :: 2.1675 - 3.1550 :: 2.1875 - 3.1750 :: 2.2500 - 3.2375 :: 2.2500 - 3.2375 :: 2.2500 - 3.2375 :: 2.7092 : 2.6081 

-- Mozzarella 5 - 6# :: 1.7000 - 2.6400 :: 1.7200 - 2.6600 :: 1.7825 - 2.7225 :: 1.7825 - 2.7225 :: 1.7825 - 2.7225 :: 2.2180 : 2.1169 

-- Grade A Swiss Cuts 6 - 9# :: 2.6800 - 2.7975 :: 2.5200 - 2.6375 :: 2.5200 - 2.6375 :: 2.5200 - 2.6375 :: 2.5200 - 2.6375 :: 2.6168 : 2.9038 

NORTHEAST (WSP, Delivered, LTL) 

-- Cheddar 40# Block :: 1.9925 - 2.2775 :: 2.0125 - 2.2975 :: 2.0750 - 2.3600 :: 2.0750 - 2.3600 :: 2.0750 - 2.3600 :: 2.1830 : 2.0844 

-- Process 5# Sliced :: 1.6175 - 2.0975 :: 1.5850 - 2.0650 :: 1.6075 - 2.0875 :: 1.6175 - 2.0975 :: 1.6225 - 2.1025 :: 1.8476 : 1.8038 

-- Muenster :: 1.9775 - 2.3275 :: 1.9975 - 2.3475 :: 2.0600 - 2.4100 :: 2.0600 - 2.4100 :: 2.0600 - 2.4100 :: 2.2005 : 2.1019 

-- Grade A Swiss Cuts 10 - 14# :: 3.1625 - 3.4850 :: 3.0025 - 3.3250 :: 3.0025 - 3.3250 :: 3.0025 - 3.3250 :: 3.0025 - 3.3250 :: 3.2018 : 3.4888 

WEST COAST (WSP, Delivered, LTL) 

-- Process 5# Loaf :: 1.5600 - 1.8175 :: 1.5275 - 1.7850 :: 1.5500 - 1.8075 :: 1.5600 - 1.8175 :: 1.5650 - 1.8225 :: 1.6789 : 1.6375 

-- Cheddar 40# Block :: 1.6600 - 2.1050 :: 1.6800 - 2.1250 :: 1.7425 - 2.1875 :: 1.7425 - 2.1875 :: 1.7425 - 2.1875 :: 1.9305 : 1.8294 

-- Cheddar 10# Cuts :: 1.8400 - 2.0600 :: 1.8600 - 2.0800 :: 1.9225 - 2.1425 :: 1.9225 - 2.1425 :: 1.9225 - 2.1425 :: 1.9980 : 1.8969 

-- Monterey Jack 10# :: 1.8500 - 2.0100 :: 1.8700 - 2.0300 :: 1.9325 - 2.0925 :: 1.9325 - 2.0925 :: 1.9325 - 2.0925 :: 1.9780 : 1.8769 

-- Grade A Swiss Cuts 6 - 9# :: 2.7400 - 3.1700 :: 2.5800 - 3.0100 :: 2.5800 - 3.0100 :: 2.5800 - 3.0100 :: 2.5800 - 3.0100 :: 2.8331 : 3.1200 

 

 

 FLUID PRODUCTS 

SPOT PRICES OF CLASS II CREAM ($ per lb. butterfat) 

 -- Northeast - f.o.b :: 2.5185 - 2.7594 :: 2.6606 - 2.8652 :: 2.6559 - 2.9100 :: 2.6467 - 2.8769 :: 2.7163 - 2.9761 :: 2.7419 : 2.4007 

 -- Upper Midwest - f.o.b :: 2.6280 - 2.7594 :: 2.7288 - 2.8425 :: 2.7714 - 2.9010 :: 2.7618 - 2.8769 :: 2.8580 - 2.9761 :: 2.7901 : 2.4615 

PRICES OF CONDENSED SKIM - NORTHEAST ($ per lb. wet solids) - f.o.b. 

 -- Class II :: 0.50 - 0.80 :: 0.50 - 0.80 :: 0.50 - 0.80 :: 0.50 - 0.81 :: 0.50 - 0.81 :: 0.6514 : 0.5850 

 -- Class III :: 0.55 - 0.85 :: 0.55 - 0.86 :: 0.55 - 0.86 :: 0.55 - 0.86 :: 0.55 - 0.86 :: 0.7038 : 0.6275 
35

DAIRY MARKET NEWS DOMESTIC MONTHLY SUMMARY AND AVERAGES FOR APRIL 20181 - (UNLESS OTHERWISE NOTED, PRICES ARE DOLLARS PER POUND, CL/TL)

 

 ::REPORT NUMBER 14 ::REPORT NUMBER 15 ::REPORT NUMBER 16 ::REPORT NUMBER 17 ::REPORT NUMBER 18 :: 2018 : 2017 

 COMMODITY ::-----------------::-----------------::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: APR 2 - 6 :: APR 9 - 13 :: APR 16 - 20 :: APR 23 - 27 :: APR 30 :: Average : Average 

 

 DRY PRODUCTS 

 

NONFAT DRY MILK 

-- Central And East (f.o.b.) 

 -- Low/Medium Heat :: 0.6800 - 0.7550 :: 0.6800 - 0.7500 :: 0.6800 - 0.7850 :: 0.6800 - 0.8500 :: 0.6800 - 0.8700 :: 0.7345 : 0.8450 

 -- Mostly :: 0.7000 - 0.7400 :: 0.7000 - 0.7400 :: 0.7000 - 0.7400 :: 0.7300 - 0.7850 :: 0.7550 - 0.8200 :: 0.7321 : 0.8363 

 -- High Heat :: 0.8200 - 0.9800 :: 0.8200 - 0.9800 :: 0.8200 - 0.9800 :: 0.8500 - 0.9800 :: 0.8500 - 0.9800 :: 0.9043 : 0.9863 

-- West (f.o.b) 

 -- Low/Medium Heat :: 0.6500 - 0.7600 :: 0.6800 - 0.7700 :: 0.6800 - 0.7700 :: 0.7300 - 0.8500 :: 0.7500 - 0.8675 :: 0.7397 : 0.8263 

 -- Mostly :: 0.6900 - 0.7300 :: 0.7000 - 0.7300 :: 0.7200 - 0.7500 :: 0.7300 - 0.8250 :: 0.7500 - 0.8300 :: 0.7370 : 0.8325 

 -- High Heat :: 0.8500 - 0.9300 :: 0.8500 - 0.9400 :: 0.9000 - 1.0000 :: 0.9000 - 1.0000 :: 0.9000 - 1.0300 :: 0.9233 : 0.9772 

WHEY POWDER (Nonhygroscopic) 

 -- Central (f.o.b.) :: 0.2000 - 0.3100 :: 0.2100 - 0.3100 :: 0.2150 - 0.3100 :: 0.2250 - 0.3500 :: 0.2250 - 0.3500 :: 0.2673 : 0.4938 

 -- Mostly :: 0.2150 - 0.2650 :: 0.2150 - 0.2600 :: 0.2200 - 0.2700 :: 0.2250 - 0.2750 :: 0.2250 - 0.2750 :: 0.2435 : 0.4900 

 -- West (f.o.b.) :: 0.2200 - 0.3200 :: 0.2200 - 0.3225 :: 0.2300 - 0.3225 :: 0.2300 - 0.3300 :: 0.2300 - 0.3300 :: 0.2746 : 0.5050 

 -- Mostly :: 0.2350 - 0.2875 :: 0.2400 - 0.2875 :: 0.2400 - 0.2875 :: 0.2500 - 0.3100 :: 0.2500 - 0.3100 :: 0.2678 : 0.4925 

 -- Northeast (f.o.b.) :: 0.2500 - 0.2950 :: 0.2500 - 0.2900 :: 0.2500 - 0.2900 :: 0.2500 - 0.2925 :: 0.2500 - 0.3000 :: 0.2711 : 0.4966 

WHEY PROTEIN CONCENTRATE 

-- Central And West (f.o.b.) 

 -- Extra Grade 34% Protein :: 0.5900 - 0.9400 :: 0.6200 - 0.9400 :: 0.5900 - 0.9400 :: 0.5900 - 0.9400 :: 0.5900 - 0.9400 :: 0.7686 : 0.9900 

 -- Mostly :: 0.6250 - 0.7500 :: 0.6400 - 0.7500 :: 0.6500 - 0.7700 :: 0.6800 - 0.7500 :: 0.6800 - 0.7600 :: 0.7027 : 0.9425 

ANIMAL FEED - WHEY 

-- Central (f.o.b.) 

 -- Milk Replacer :: 0.1500 - 0.2200 :: 0.1500 - 0.2200 :: 0.1500 - 0.2200 :: 0.1800 - 0.2300 :: 0.1800 - 0.2300 :: 0.1907 : 0.3900 

BUTTERMILK (Min. 30% protein) 

-- Central And East (f.o.b.) :: 0.6800 - 0.7650 :: 0.6800 - 0.7650 :: 0.6800 - 0.7900 :: 0.6700 - 0.7900 :: 0.6700 - 0.7900 :: 0.7276 : 0.8713 

-- West (f.o.b.) :: 0.6800 - 0.7800 :: 0.6800 - 0.7800 :: 0.6800 - 0.7800 :: 0.6800 - 0.7800 :: 0.6800 - 0.7800 :: 0.7300 : 0.8500 

 -- Mostly :: 0.6800 - 0.7300 :: 0.6800 - 0.7300 :: 0.6800 - 0.7500 :: 0.7000 - 0.7500 :: 0.7000 - 0.7700 :: 0.7136 : 0.8425 

DRY WHOLE MILK 

-- National (f.o.b.) :: 1.4400 - 1.5000 :: 1.4400 - 1.5500 :: 1.4400 - 1.5500 :: 1.4400 - 1.5500 :: 1.4500 - 1.6000 :: 1.4905 : 1.4338 

LACTOSE 

-- Central And West (f.o.b.) :: 0.1650 - 0.3900 :: 0.1750 - 0.3900 :: 0.1800 - 0.3900 :: 0.1900 - 0.3900 :: 0.1900 - 0.3900 :: 0.2840 : 0.4213 

 -- Mostly :: 0.2000 - 0.2600 :: 0.2000 - 0.2600 :: 0.2000 - 0.2600 :: 0.2200 - 0.2600 :: 0.2200 - 0.2800 :: 0.2333 : 0.4038 

CASEIN - Edible - National (f.o.b.) 

 -- Nonrestricted - Rennet :: 2.3500 - 2.7000 :: 2.5000 - 2.7500 :: 2.6000 - 2.7600 :: 2.6500 - 2.7600 :: 2.3200 - 2.6900 :: 2.6276 : 2.9494 

 -- Nonrestricted - Acid :: 2.9500 - 3.2000 :: 2.9800 - 3.2200 :: 2.9900 - 3.2400 :: 2.9900 - 3.2400 :: 2.9500 - 3.2100 :: 3.1002 : 3.5875 

---------------------------------------------------------------------------------------------------------------------------------------------------------

1 Prices for all products are issued once a week and represent a value for the entire week. Monthly averages are based on weekly prices and are 

time-weighted according to the number of workdays in the month - Saturdays, Sundays and National Holidays excluded. No monthly average is computed if 

one or more weekly prices are missing. 
36

 DAIRY MARKET NEWS INTERNATIONAL MONTHLY SUMMARY AND AVERAGES FOR APRIL 20181

 (UNLESS OTHERWISE NOTED, PRICES ARE U.S.DOLLARS/METRIC TON, F.O.B. PORT)

 

 ::REPORT NUMBER 15 ::REPORT NUMBER 17 ::REPORT NUMBER 19 :: 2018 * : 2017 * 

 COMMODITY ::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: APR 2 - 13 :: APR 16 - 27 :: APR 30 :: Average : Average 

--------------------------------------------------------------------------------------------------------------

*Average updated 

BUTTER (82% BUTTERFAT) 

 -- OCEANIA :: 5475 - 5550 :: 5625 - 5700 :: 5625 - 5775 :: 5593 : 5106 

 -- WESTERN EUROPE :: 5925 - 6850 :: 6225 - 7175 :: 6800 - 7125 :: 6564 : 4819 

BUTTEROIL (99% BUTTERFAT) 

 -- WESTERN EUROPE :: 6900 - 7250 :: 6500 - 6825 :: 6500 - 7650 :: 6879 : 5431 

CHEDDAR CHEESE (39% MAXIMUM MOISTURE) 

 -- OCEANIA :: 3600 - 3850 :: 3775 - 3925 :: 3925 - 4000 :: 3796 : 3438 

SKIM MILK POWDER (1.25% BUTTERFAT) 

 -- OCEANIA :: 1875 - 1950 :: 1900 - 2000 :: 1975 - 2100 :: 1936 : 1969 

 -- SOUTH AMERICA :: 2200 - 2500 :: 2225 - 2525 :: 2350 - 2650 :: 2369 : *2675 

 -- WESTERN EUROPE :: 1525 - 1675 :: 1650 - 1775 :: 1675 - 1800 :: 1660 : 1881 

WHEY POWDER (NONHYGROSCOPIC) 

 -- WESTERN EUROPE :: 925 - 975 :: 900 - 950 :: 900 - 925 :: 936 : 1050 

WHOLE MILK POWDER (26% BUTTERFAT) 

 -- OCEANIA :: 3250 - 3350 :: 3275 - 3375 :: 3175 - 3350 :: 3310 : 3031 

 -- SOUTH AMERICA :: 3050 - 3350 :: 3150 - 3400 :: 3000 - 3250 :: 3232 : 3438 

 -- WESTERN EUROPE :: 3175 - 3350 :: 3250 - 3350 :: 3250 - 3375 :: 3283 : 2925 

--------------------------------------------------------------------------------------------------------------

1 Prices for all products are issued biweekly and represent a value for the entire biweekly period. Monthly 

averages are based on biweekly prices and are time-weighted according to the number of workdays in the month -

Saturdays and Sundays excluded. No monthly average is computed if one or more biweekly prices are missing. 
37

CME GROUP AVERAGES FOR APRIL 2018

 ::REPORT NUMBER 14::REPORT NUMBER 15::REPORT NUMBER 16::REPORT NUMBER 17::REPORT NUMBER 18:: 2018 * : 2017 * 

 COMMODITY ::----------------::----------------::----------------::----------------::----------------:: Monthly : Monthly 

 :: APR 2 - 6 :: APR 9 - 13 :: APR 16 - 20 :: APR 23 - 27 :: APR 30 :: Average : Average 

------------------------------------------------------------------------------------------------------------------------------------

 

 BUTTER* 

 

-- GRADE AA 

 --Monday :: 2.2200 :: 2.3200 :: 2.2850 :: 2.3200 :: 2.3700 :: : 

 --Tuesday :: 2.2400 :: 2.3200 :: 2.2925 :: 2.3750 :: :: : 

 --Wednesday :: 2.3350 :: 2.3200 :: 2.3075 :: 2.3750 :: :: : 

 --Thursday :: 2.2875 :: 2.3000 :: 2.3075 :: 2.3800 :: :: : 

 --Friday :: 2.2875 :: 2.2875 :: 2.3150 :: 2.3600 :: :: 2.3145 : 2.0992 

 

--Weekly Average** :: 2.2740 :: 2.3095 :: 2.3015 :: 2.3620 :: :: : 

 

 CHEESE* 

 

-- BARRELS 

 --Monday :: 1.4450 :: 1.4775 :: 1.4600 :: 1.4900 :: 1.4875 :: : 

 --Tuesday :: 1.4450 :: 1.4775 :: 1.4800 :: 1.4875 :: :: : 

 --Wednesday :: 1.4500 :: 1.4775 :: 1.4800 :: 1.4825 :: :: : 

 --Thursday :: 1.4475 :: 1.4600 :: 1.4875 :: 1.4825 :: :: : 

 --Friday :: 1.4500 :: 1.4600 :: 1.5000 :: 1.4875 :: :: 1.4721 : 1.4307 

 

--Weekly Average** :: 1.4475 :: 1.4705 :: 1.4815 :: 1.4860 :: :: : 

 

-- 40# BLOCKS 

 --Monday :: 1.5300 :: 1.6025 :: 1.6050 :: 1.6300 :: 1.6300 :: : 

 --Tuesday :: 1.5500 :: 1.6400 :: 1.6300 :: 1.6275 :: :: : 

 --Wednesday :: 1.5525 :: 1.6400 :: 1.6300 :: 1.6100 :: :: : 

 --Thursday :: 1.5575 :: 1.6200 :: 1.6350 :: 1.6100 :: :: : 

 --Friday :: 1.6025 :: 1.6050 :: 1.6025 :: 1.6200 :: :: 1.6062 : 1.4976 

 

--Weekly Average** :: 1.5585 :: 1.6215 :: 1.6205 :: 1.6195 :: :: : 

 

 NONFAT DRY MILK* 

 

-- GRADE A 

 --Monday :: 0.6900 :: 0.7275 :: 0.7325 :: 0.8325 :: 0.8550 :: : 

 --Tuesday :: 0.6900 :: 0.7350 :: 0.7700 :: 0.8200 :: :: : 

 --Wednesday :: 0.7075 :: 0.7350 :: 0.7750 :: 0.8200 :: :: : 

 --Thursday :: 0.7200 :: 0.7350 :: 0.7900 :: 0.8350 :: :: : 

 --Friday :: 0.7275 :: 0.7325 :: 0.8050 :: 0.8425 :: :: 0.7656 : 0.8347 

 

--Weekly Average** :: 0.7070 :: 0.7330 :: 0.7745 :: 0.8300 :: :: : 

 

 WHEY* 

 

-- EXTRA GRADE 

 --Monday :: 0.2800 :: 0.3100 :: 0.3050 :: 0.3150 :: 0.3100 :: : 

 --Tuesday :: 0.2800 :: 0.3000 :: 0.3075 :: 0.3150 :: :: : 

 --Wednesday :: 0.2800 :: 0.3050 :: 0.3075 :: 0.3075 :: :: : 

 --Thursday :: 0.2850 :: 0.3050 :: 0.3075 :: 0.3100 :: :: : 

 --Friday :: 0.3200 :: 0.3050 :: 0.3150 :: 0.3100 :: :: 0.3038 : 

 

--Weekly Average** :: 0.2890 :: 0.3050 :: 0.3085 :: 0.3115 :: :: : 

 

------------------------------------------------------------------------------------------------------------------------------------

* Monthly averages are a simple average of all the closes during the month. Weekly and monthly averages are independent 

calculations. 

** Weekly averages are simple averages of the closes during the calendar week and are for information purposes. Should the 

week be split between two months, the weekly average will appear in the monthly report in which the Friday close is reported. 
38

DAIRY MARKET NEWS DOMESTIC MONTHLY SUMMARY AND AVERAGES FOR MAY 20181 - (UNLESS OTHERWISE NOTED, PRICES ARE DOLLARS PER POUND, CL/TL)

 

 ::REPORT NUMBER 18 ::REPORT NUMBER 19 ::REPORT NUMBER 20 ::REPORT NUMBER 21 ::REPORT NUMBER 22 :: 2018 : 2017 

 COMMODITY ::-----------------::-----------------::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: MAY 1 - 4 :: MAY 7 - 11 :: MAY 14 - 18 :: MAY 21 - 25 :: MAY 29 - 31 :: Average : Average 

 

 CHEESE 

WISCONSIN (WSP, Delivered, LTL) 

-- Process American 5# Loaf :: 1.5775 - 1.9375 :: 1.6700 - 2.0300 :: 1.7350 - 2.0950 :: 1.6600 - 2.0200 :: 1.6475 - 2.0075 :: 1.8426 : 1.7365 

-- Brick And/Or Muenster 5# :: 1.9825 - 2.4075 :: 2.0200 - 2.4450 :: 2.0425 - 2.4675 :: 1.9725 - 2.3975 :: 1.9925 - 2.4175 :: 2.2163 : 2.1640 

-- Cheddar 40# Block :: 1.7100 - 2.1050 :: 1.7475 - 2.1425 :: 1.7700 - 2.1650 :: 1.7000 - 2.0950 :: 1.7200 - 2.1150 :: 1.9288 : 1.8765 

-- Monterey Jack 10# :: 1.9575 - 2.1625 :: 1.9950 - 2.2000 :: 2.0175 - 2.2225 :: 1.9475 - 2.1525 :: 1.9675 - 2.1725 :: 2.0813 : 2.0290 

-- Blue 5# :: 2.2500 - 3.2375 :: 2.2875 - 3.2750 :: 2.3100 - 3.2975 :: 2.2400 - 3.2275 :: 2.2600 - 3.2475 :: 2.7650 : 2.7127 

-- Mozzarella 5 - 6# :: 1.7825 - 2.7225 :: 1.8200 - 2.7600 :: 1.8425 - 2.7825 :: 1.7725 - 2.7125 :: 1.7925 - 2.7325 :: 2.2738 : 2.2215 

-- Grade A Swiss Cuts 6 - 9# :: 2.5200 - 2.6375 :: 2.4525 - 2.5700 :: 2.4525 - 2.5700 :: 2.4525 - 2.5700 :: 2.4525 - 2.5700 :: 2.5235 : 2.8959 

NORTHEAST (WSP, Delivered, LTL) 

-- Cheddar 40# Block :: 2.0750 - 2.3600 :: 2.1125 - 2.3975 :: 2.1350 - 2.4200 :: 2.0650 - 2.3500 :: 2.0850 - 2.3700 :: 2.2388 : 2.1890 

-- Process 5# Sliced :: 1.6225 - 2.1025 :: 1.7150 - 2.1950 :: 1.7800 - 2.2600 :: 1.7050 - 2.1850 :: 1.6925 - 2.1725 :: 1.9476 : 1.8390 

-- Muenster :: 2.0600 - 2.4100 :: 2.0975 - 2.4475 :: 2.1200 - 2.4700 :: 2.0500 - 2.4000 :: 2.0700 - 2.4200 :: 2.2563 : 2.2065 

-- Grade A Swiss Cuts 10 - 14# :: 3.0025 - 3.3250 :: 2.9350 - 3.2575 :: 2.9350 - 3.2575 :: 2.9350 - 3.2575 :: 2.9350 - 3.2575 :: 3.1085 : 3.4809 

WEST COAST (WSP, Delivered, LTL) 

-- Process 5# Loaf :: 1.5650 - 1.8225 :: 1.6575 - 1.9150 :: 1.7225 - 1.9800 :: 1.6475 - 1.9050 :: 1.6350 - 1.8925 :: 1.7789 : 1.6727 

-- Cheddar 40# Block :: 1.7425 - 2.1875 :: 1.7800 - 2.2250 :: 1.8025 - 2.2475 :: 1.7325 - 2.1775 :: 1.7525 - 2.1975 :: 1.9863 : 1.9340 

-- Cheddar 10# Cuts :: 1.9225 - 2.1425 :: 1.9600 - 2.1800 :: 1.9825 - 2.2025 :: 1.9125 - 2.1325 :: 1.9325 - 2.1525 :: 2.0538 : 2.0015 

-- Monterey Jack 10# :: 1.9325 - 2.0925 :: 1.9700 - 2.1300 :: 1.9925 - 2.1525 :: 1.9225 - 2.0825 :: 1.9425 - 2.1025 :: 2.0338 : 1.9815 

-- Grade A Swiss Cuts 6 - 9# :: 2.5800 - 3.0100 :: 2.5125 - 2.9425 :: 2.5125 - 2.9425 :: 2.5125 - 2.9425 :: 2.5325 - 2.9625 :: 2.7425 : 3.1122 

 

 

 FLUID PRODUCTS 

SPOT PRICES OF CLASS II CREAM ($ per lb. butterfat) 

 -- Northeast - f.o.b :: 2.7163 - 2.9761 :: 2.7807 - 3.0635 :: 2.7488 - 2.9585 :: 2.8019 - 3.1343 :: 2.8527 - 3.1911 :: 2.9168 : 2.6217 

 -- Upper Midwest - f.o.b :: 2.8580 - 2.9761 :: 2.8514 - 2.9692 :: 2.8187 - 2.9352 :: 2.8731 - 2.9919 :: 2.9494 - 3.0219 :: 2.9193 : 2.6494 

PRICES OF CONDENSED SKIM - NORTHEAST ($ per lb. wet solids) - f.o.b. 

 -- Class II :: 0.50 - 0.81 :: 0.45 - 0.81 :: 0.45 - 0.81 :: 0.45 - 0.81 :: 0.45 - 0.85 :: 0.6373 : 0.4873 

 -- Class III :: 0.55 - 0.86 :: 0.49 - 0.85 :: 0.49 - 0.85 :: 0.49 - 0.85 :: 0.49 - 0.85 :: 0.6764 : 0.5364 
39

DAIRY MARKET NEWS DOMESTIC MONTHLY SUMMARY AND AVERAGES FOR MAY 20181 - (UNLESS OTHERWISE NOTED, PRICES ARE DOLLARS PER POUND, CL/TL)

 

 ::REPORT NUMBER 18 ::REPORT NUMBER 19 ::REPORT NUMBER 20 ::REPORT NUMBER 21 ::REPORT NUMBER 22 :: 2018 : 2017 

 COMMODITY ::-----------------::-----------------::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: MAY 1 - 4 :: MAY 7 - 11 :: MAY 14 - 18 :: MAY 21 - 25 :: MAY 29 - 31 :: Average : Average 

 

 DRY PRODUCTS 

NONFAT DRY MILK 

-- Central And East (f.o.b.) 

 -- Low/Medium Heat :: 0.6800 - 0.8700 :: 0.7100 - 0.8800 :: 0.7550 - 0.8800 :: 0.7700 - 0.8800 :: 0.8000 - 0.8900 :: 0.8101 : 0.8750 

 -- Mostly :: 0.7550 - 0.8200 :: 0.7550 - 0.8500 :: 0.7825 - 0.8600 :: 0.8000 - 0.8600 :: 0.8100 - 0.8600 :: 0.8147 : 0.8770 

 -- High Heat :: 0.8500 - 0.9800 :: 0.8875 - 0.9800 :: 0.9100 - 1.0500 :: 0.9225 - 1.0500 :: 0.9300 - 1.0800 :: 0.9625 : 1.0098 

-- West (f.o.b) 

 -- Low/Medium Heat :: 0.7500 - 0.8675 :: 0.7625 - 0.8950 :: 0.7600 - 0.8950 :: 0.7950 - 0.8950 :: 0.7900 - 0.8925 :: 0.8302 : 0.8759 

 -- Mostly :: 0.7500 - 0.8300 :: 0.8050 - 0.8500 :: 0.7800 - 0.8700 :: 0.8000 - 0.8700 :: 0.8000 - 0.8900 :: 0.8242 : 0.8882 

 -- High Heat :: 0.9000 - 1.0300 :: 0.9000 - 1.0500 :: 0.9000 - 1.0700 :: 0.9250 - 1.0700 :: 0.9500 - 1.0800 :: 0.9860 : 1.0041 

WHEY POWDER (Nonhygroscopic) 

 -- Central (f.o.b.) :: 0.2250 - 0.3500 :: 0.2000 - 0.3500 :: 0.2250 - 0.3500 :: 0.2500 - 0.3600 :: 0.2700 - 0.4000 :: 0.2951 : 0.4784 

 -- Mostly :: 0.2250 - 0.2750 :: 0.2250 - 0.2900 :: 0.2525 - 0.3100 :: 0.2525 - 0.3100 :: 0.2725 - 0.3450 :: 0.2739 : 0.4914 

 -- West (f.o.b.) :: 0.2300 - 0.3300 :: 0.2300 - 0.3600 :: 0.2400 - 0.3600 :: 0.2675 - 0.3600 :: 0.2725 - 0.4000 :: 0.3033 : 0.4716 

 -- Mostly :: 0.2500 - 0.3100 :: 0.2600 - 0.3300 :: 0.2650 - 0.3300 :: 0.2925 - 0.3350 :: 0.3000 - 0.3450 :: 0.3009 : 0.4636 

 -- Northeast (f.o.b.) :: 0.2500 - 0.3000 :: 0.2500 - 0.3350 :: 0.2500 - 0.3500 :: 0.2500 - 0.3600 :: 0.2700 - 0.3600 :: 0.2969 : 0.4845 

WHEY PROTEIN CONCENTRATE 

-- Central And West (f.o.b.) 

 -- Extra Grade 34% Protein :: 0.5900 - 0.9400 :: 0.6800 - 0.9400 :: 0.6800 - 0.9400 :: 0.6800 - 0.9400 :: 0.6800 - 0.9400 :: 0.8018 : 0.9936 

 -- Mostly :: 0.6800 - 0.7600 :: 0.7000 - 0.7800 :: 0.7200 - 0.8000 :: 0.7200 - 0.8000 :: 0.7400 - 0.8100 :: 0.7502 : 0.9138 

ANIMAL FEED - WHEY 

-- Central (f.o.b.) 

 -- Milk Replacer :: 0.1800 - 0.2300 :: 0.1750 - 0.2200 :: 0.1500 - 0.2200 :: 0.1500 - 0.2200 :: 0.1500 - 0.2200 :: 0.1915 : 0.3888 

BUTTERMILK (Min. 30% protein) 

-- Central And East (f.o.b.) :: 0.6700 - 0.7900 :: 0.7100 - 0.7900 :: 0.7100 - 0.8000 :: 0.7100 - 0.8000 :: 0.7100 - 0.8200 :: 0.7507 : 0.8423 

-- West (f.o.b.) :: 0.6800 - 0.7800 :: 0.6800 - 0.7800 :: 0.7000 - 0.8000 :: 0.7000 - 0.8000 :: 0.7000 - 0.8200 :: 0.7432 : 0.8407 

 -- Mostly :: 0.7000 - 0.7700 :: 0.7000 - 0.7700 :: 0.7300 - 0.7700 :: 0.7300 - 0.7700 :: 0.7300 - 0.7800 :: 0.7445 : 0.8352 

DRY WHOLE MILK 

-- National (f.o.b.) :: 1.4500 - 1.6000 :: 1.4500 - 1.6000 :: 1.5000 - 1.6000 :: 1.5000 - 1.6500 :: 1.5000 - 1.6500 :: 1.5489 : 1.3650 

LACTOSE 

-- Central And West (f.o.b.) :: 0.1900 - 0.3900 :: 0.1800 - 0.3900 :: 0.1800 - 0.3900 :: 0.1800 - 0.3900 :: 0.1800 - 0.3900 :: 0.2859 : 0.4513 

 -- Mostly :: 0.2200 - 0.2800 :: 0.2200 - 0.2900 :: 0.2200 - 0.2950 :: 0.2200 - 0.3000 :: 0.2325 - 0.3000 :: 0.2573 : 0.4100 

CASEIN - Edible - National (f.o.b.) 

 -- Nonrestricted - Rennet :: 2.3200 - 2.6900 :: 2.3200 - 2.6900 :: 2.1900 - 2.5200 :: 2.1650 - 2.4900 :: 2.1650 - 2.4900 :: 2.4064 : 2.9227 

 -- Nonrestricted - Acid :: 2.9500 - 3.2100 :: 2.9500 - 3.2100 :: 2.9200 - 3.1700 :: 2.8900 - 3.1500 :: 2.8900 - 3.1500 :: 3.0502 : 3.5784 

---------------------------------------------------------------------------------------------------------------------------------------------------------

1 Prices for all products are issued once a week and represent a value for the entire week. Monthly averages are based on weekly prices and are 

time-weighted according to the number of workdays in the month - Saturdays, Sundays and National Holidays excluded. No monthly average is computed if 

one or more weekly prices are missing. 
40

 DAIRY MARKET NEWS INTERNATIONAL MONTHLY SUMMARY AND AVERAGES FOR MAY 20181

 (UNLESS OTHERWISE NOTED, PRICES ARE U.S.DOLLARS/METRIC TON, F.O.B. PORT) 

 

 ::REPORT NUMBER 19 ::REPORT NUMBER 21 ::REPORT NUMBER 23 :: 2018 * : 2017 * 

 COMMODITY ::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: MAY 1 - 11 :: MAY 14 - 25 :: MAY 28 - 31 :: Average : Average 

--------------------------------------------------------------------------------------------------------------

*Average updated 

BUTTER (82% BUTTERFAT) 

 -- OCEANIA :: 5625 - 5775 :: 5750 - 5850 :: 5525 - 5900 :: 5746 : 5200 

 -- WESTERN EUROPE :: 6800 - 7125 :: 6900 - 7250 :: 7125 - 7300 :: 7055 : 5423 

BUTTEROIL (99% BUTTERFAT) 

 -- WESTERN EUROPE :: 6500 - 7650 :: 6300 - 8300 :: 6300 - 8800 :: 7255 : 5666 

CHEDDAR CHEESE (39% MAXIMUM MOISTURE) 

 -- OCEANIA :: 3925 - 4000 :: 4050 - 4400 :: 3975 - 4100 :: 4090 : 3662 

SKIM MILK POWDER (1.25% BUTTERFAT) 

 -- OCEANIA :: 1975 - 2100 :: 2025 - 2150 :: 2025 - 2300 :: 2081 : 2004 

 -- SOUTH AMERICA :: 2350 - 2650 :: 2400 - 2700 :: 2300 - 2600 :: *2513 : 2872 

 -- WESTERN EUROPE :: 1675 - 1800 :: 1700 - 1825 :: 1775 - 1950 :: 1770 : 2051 

WHEY POWDER (NONHYGROSCOPIC) 

 -- WESTERN EUROPE :: 900 - 925 :: 875 - 950 :: 825 - 975 :: 910 : 1203 

WHOLE MILK POWDER (26% BUTTERFAT) 

 -- OCEANIA :: 3175 - 3350 :: 3200 - 3350 :: 3175 - 3350 :: 3268 : 3211 

 -- SOUTH AMERICA :: 3000 - 3250 :: 3100 - 3300 :: 3100 - 3300 :: 3171 : 3387 

 -- WESTERN EUROPE :: 3250 - 3375 :: 3250 - 3400 :: 3275 - 3475 :: 3329 : 3184 

--------------------------------------------------------------------------------------------------------------

1 Prices for all products are issued biweekly and represent a value for the entire biweekly period. Monthly 

averages are based on biweekly prices and are time-weighted according to the number of workdays in the month -

Saturdays and Sundays excluded. No monthly average is computed if one or more biweekly prices are missing. 
41

CME GROUP AVERAGES FOR MAY 2018

 ::REPORT NUMBER 18::REPORT NUMBER 19::REPORT NUMBER 20::REPORT NUMBER 21::REPORT NUMBER 22:: 2018 * : 2017 * 

 COMMODITY ::----------------::----------------::----------------::----------------::----------------:: Monthly : Monthly 

 :: MAY 1 - 4 :: MAY 7 - 11 :: MAY 14 - 18 :: MAY 21 - 25 :: MAY 29 - 31 :: Average : Average 

------------------------------------------------------------------------------------------------------------------------------------

 

 BUTTER* 

 

-- GRADE AA 

 --Monday :: :: 2.3250 :: 2.3400 :: 2.4350 :: 1 :: : 

 --Tuesday :: 2.3600 :: 2.3025 :: 2.3825 :: 2.4500 :: 2.4175 :: : 

 --Wednesday :: 2.3475 :: 2.3450 :: 2.3800 :: 2.3850 :: 2.4250 :: : 

 --Thursday :: 2.3525 :: 2.3400 :: 2.3850 :: 2.4025 :: 2.3900 :: : 

 --Friday :: 2.3525 :: 2.3350 :: 2.3850 :: 2.4150 :: :: 2.3751 : 2.2684 

 

--Weekly Average** :: 2.3565 :: 2.3295 :: 2.3745 :: 2.4175 :: 

 

 CHEESE* 

 

-- BARRELS 

 --Monday :: :: 1.6525 :: 1.6000 :: 1.5700 :: 1 :: : 

 --Tuesday :: 1.6025 :: 1.6500 :: 1.6000 :: 1.5650 :: 1.5550 :: : 

 --Wednesday :: 1.6025 :: 1.6500 :: 1.5800 :: 1.5500 :: 1.5575 :: : 

 --Thursday :: 1.6025 :: 1.6500 :: 1.5350 :: 1.5500 :: 1.5450 :: : 

 --Friday :: 1.6000 :: 1.6200 :: 1.5325 :: 1.5450 :: :: 1.5870 : 1.4806 

 

--Weekly Average** :: 1.5790 :: 1.6445 :: 1.5695 :: 1.5560 :: 

 

-- 40# BLOCKS 

 --Monday :: :: 1.6925 :: 1.6400 :: 1.6400 :: 1 :: : 

 --Tuesday :: 1.6600 :: 1.7025 :: 1.6400 :: 1.6375 :: 1.6200 :: : 

 --Wednesday :: 1.6650 :: 1.7025 :: 1.6000 :: 1.6300 :: 1.6075 :: : 

 --Thursday :: 1.6650 :: 1.6650 :: 1.5825 :: 1.6250 :: 1.6075 :: : 

 --Friday :: 1.6650 :: 1.6325 :: 1.5825 :: 1.6100 :: :: 1.6397 : 1.6264 

 

--Weekly Average** :: 1.6570 :: 1.6790 :: 1.6090 :: 1.6285 :: 

 

 NONFAT DRY MILK* 

 

-- GRADE A 

 --Monday :: :: 0.8600 :: 0.8475 :: 0.8550 :: 1 :: : 

 --Tuesday :: 0.8250 :: 0.8600 :: 0.8475 :: 0.8550 :: 0.8450 :: : 

 --Wednesday :: 0.8200 :: 0.8300 :: 0.8475 :: 0.8400 :: 0.8400 :: : 

 --Thursday :: 0.8375 :: 0.8500 :: 0.8550 :: 0.8425 :: 0.8250 :: : 

 --Friday :: 0.8425 :: 0.8500 :: 0.8525 :: 0.8425 :: :: 0.8441 : 0.8888 

 

--Weekly Average** :: 0.8360 :: 0.8500 :: 0.8500 :: 0.8470 :: 

 

 WHEY* 

 

-- EXTRA GRADE 

 --Monday :: :: 0.3200 :: 0.3300 :: 0.3700 :: 1 :: : 

 --Tuesday :: 0.3100 :: 0.3200 :: 0.3300 :: 0.3725 :: 0.3775 :: : 

 --Wednesday :: 0.3150 :: 0.3200 :: 0.3400 :: 0.3600 :: 0.3775 :: : 

 --Thursday :: 0.3175 :: 0.3225 :: 0.3675 :: 0.3700 :: 0.3900 :: : 

 --Friday :: 0.3175 :: 0.3250 :: 0.3700 :: 0.3725 :: :: 0.3452 : 

 

--Weekly Average** :: 0.3140 :: 0.3215 :: 0.3475 :: 0.3690 :: 

 

------------------------------------------------------------------------------------------------------------------------------------

* Monthly averages are a simple average of all the closes during the month. Weekly and monthly averages are independent 

calculations. 

** Weekly averages are simple averages of the closes during the calendar week and are for information purposes. Should the 

week be split between two months, the weekly average will appear in the monthly report in which the Friday close is reported. 

1/ CME closed for Memorial Day Holiday.
42

DAIRY MARKET NEWS DOMESTIC MONTHLY SUMMARY AND AVERAGES FOR JUNE 20181 - (UNLESS OTHERWISE NOTED, PRICES ARE DOLLARS PER POUND, CL/TL)

 

 ::REPORT NUMBER 22 ::REPORT NUMBER 23 ::REPORT NUMBER 24 ::REPORT NUMBER 25 ::REPORT NUMBER 26 :: 2018 : 2017 

 COMMODITY ::-----------------::-----------------::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: JUN 1 :: JUN 4 – 8 :: JUN 11 - 15 :: JUN 18 - 22 :: JUN 25 - 29 :: Average : Average 

 

 CHEESE 

 

WISCONSIN (WSP, Delivered, LTL) 

-- Process American 5# Loaf :: 1.6475 - 2.0075 :: 1.6350 - 1.9950 :: 1.6125 - 1.9725 :: 1.6050 - 1.9650 :: 1.4125 - 1.7725 :: 1.7501 : 1.7069 

-- Brick And/Or Muenster 5# :: 1.9925 - 2.4175 :: 1.9725 - 2.3975 :: 1.9600 - 2.3850 :: 1.9825 - 2.4075 :: 1.8925 - 2.3175 :: 2.1663 : 2.2236 

-- Cheddar 40# Block :: 1.7200 - 2.1150 :: 1.7000 - 2.0950 :: 1.6875 - 2.0825 :: 1.7100 - 2.1050 :: 1.6200 - 2.0150 :: 1.8788 : 1.9361 

-- Monterey Jack 10# :: 1.9675 - 2.1725 :: 1.9475 - 2.1525 :: 1.9350 - 2.1400 :: 1.9575 - 2.1625 :: 1.8675 - 2.0725 :: 2.0313 : 2.0886 

-- Blue 5# :: 2.2600 - 3.2475 :: 2.2400 - 3.2275 :: 2.2275 - 3.2150 :: 2.2500 - 3.2375 :: 2.1600 - 3.1475 :: 2.7151 : 2.7724 

-- Mozzarella 5 - 6# :: 1.7925 - 2.7325 :: 1.7725 - 2.7125 :: 1.7600 - 2.7000 :: 1.7825 - 2.7225 :: 1.6925 - 2.6325 :: 2.2238 : 2.2811 

-- Grade A Swiss Cuts 6 - 9# :: 2.4525 - 2.5700 :: 2.5450 - 2.6625 :: 2.5450 - 2.6625 :: 2.5450 - 2.6625 :: 2.5450 - 2.6625 :: 2.5993 : 2.7874 

NORTHEAST (WSP, Delivered, LTL) 

-- Cheddar 40# Block :: 2.0850 - 2.3700 :: 2.0650 - 2.3500 :: 2.0525 - 2.3375 :: 2.0750 - 2.3600 :: 1.9850 - 2.2700 :: 2.1888 : 2.2350 

-- Process 5# Sliced :: 1.6925 - 2.1725 :: 1.6800 - 2.1600 :: 1.6575 - 2.1375 :: 1.6500 - 2.1300 :: 1.4575 - 1.9375 :: 1.8551 : 1.8231 

-- Muenster :: 2.0700 - 2.4200 :: 2.0500 - 2.4000 :: 2.0375 - 2.3875 :: 2.0600 - 2.4100 :: 1.9700 - 2.3200 :: 2.2063 : 2.2525 

-- Grade A Swiss Cuts 10 - 14# :: 2.9350 - 3.2575 :: 3.0275 - 3.3500 :: 3.0275 - 3.3500 :: 3.0275 - 3.3500 :: 3.0275 - 3.3500 :: 3.1843 : 3.3724 

WEST COAST (WSP, Delivered, LTL) 

-- Process 5# Loaf :: 1.6350 - 1.8925 :: 1.6225 - 1.8800 :: 1.6000 - 1.8575 :: 1.5925 - 1.8500 :: 1.4000 - 1.6575 :: 1.6864 : 1.6432 

-- Cheddar 40# Block :: 1.7525 - 2.1975 :: 1.7325 - 2.1775 :: 1.7200 - 2.1650 :: 1.7425 - 2.1875 :: 1.6525 - 2.0975 :: 1.9363 : 1.9936 

-- Cheddar 10# Cuts :: 1.9325 - 2.1525 :: 1.9125 - 2.1325 :: 1.9000 - 2.1200 :: 1.9225 - 2.1425 :: 1.8325 - 2.0525 :: 2.0038 : 2.0611 

-- Monterey Jack 10# :: 1.9425 - 2.1025 :: 1.9225 - 2.0825 :: 1.9100 - 2.0700 :: 1.9325 - 2.0925 :: 1.8425 - 2.0025 :: 1.9838 : 2.0411 

-- Grade A Swiss Cuts 6 - 9# :: 2.5325 - 2.9625 :: 2.6250 - 3.0550 :: 2.6250 - 3.0550 :: 2.6250 - 3.0550 :: 2.6250 - 3.0550 :: 2.8356 : 3.0036 

 

 

 FLUID PRODUCTS 

SPOT PRICES OF CLASS II CREAM ($ per lb. butterfat) 

 -- Northeast - f.o.b :: 2.8527 - 3.1911 :: 2.8830 - 3.1713 :: 2.8560 - 3.1416 :: 2.8368 - 3.1204 :: 2.8750 - 3.1050 :: 2.9997 : 3.2176 

 -- Upper Midwest - f.o.b :: 2.9494 - 3.0219 :: 2.9311 - 3.0512 :: 2.9512 - 3.1654 :: 2.9314 - 3.0732 :: 2.8750 - 2.9900 :: 2.9956 : 3.1049 

PRICES OF CONDENSED SKIM - NORTHEAST ($ per lb. wet solids) - f.o.b. 

 -- Class II :: 0.45 - 0.85 :: 0.45 - 0.85 :: 0.45 - 0.85 :: 0.45 - 0.85 :: 0.45 - 0.88 :: 0.6536 : 0.5077 

 -- Class III :: 0.49 - 0.85 :: 0.49 - 0.85 :: 0.49 - 0.85 :: 0.49 - 0.85 :: 0.49 - 0.85 :: 0.6700 : 0.4989 
43

DAIRY MARKET NEWS DOMESTIC MONTHLY SUMMARY AND AVERAGES FOR JUNE 20181 - (UNLESS OTHERWISE NOTED, PRICES ARE DOLLARS PER POUND, CL/TL)

 

 ::REPORT NUMBER 22 ::REPORT NUMBER 23 ::REPORT NUMBER 24 ::REPORT NUMBER 25 ::REPORT NUMBER 26 :: 2018 : 2017 

 COMMODITY ::-----------------::-----------------::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: JUN 1 :: JUN 4 – 8 :: JUN 11 - 15 :: JUN 18 - 22 :: JUN 25 - 29 :: Average : Average 

 

 DRY PRODUCTS 

NONFAT DRY MILK 

-- Central And East (f.o.b.) 

 -- Low/Medium Heat :: 0.8000 - 0.8900 :: 0.8000 - 0.8800 :: 0.7800 - 0.8600 :: 0.7600 - 0.8600 :: 0.7525 - 0.8500 :: 0.8191 : 0.9267 

 -- Mostly :: 0.8100 - 0.8600 :: 0.8100 - 0.8600 :: 0.8100 - 0.8500 :: 0.8100 - 0.8500 :: 0.7800 - 0.8250 :: 0.8249 : 0.9123 

 -- High Heat :: 0.9300 - 1.0800 :: 0.9350 - 1.0800 :: 0.9350 - 1.0800 :: 0.9350 - 1.0800 :: 0.9350 - 1.0800 :: 1.0074 : 1.0490 

-- West (f.o.b) 

 -- Low/Medium Heat :: 0.7900 - 0.8925 :: 0.7800 - 0.8925 :: 0.7500 - 0.8700 :: 0.7150 - 0.8600 :: 0.7150 - 0.8450 :: 0.8052 : 0.9145 

 -- Mostly :: 0.8000 - 0.8900 :: 0.8000 - 0.8900 :: 0.7800 - 0.8600 :: 0.7500 - 0.8450 :: 0.7500 - 0.8250 :: 0.8140 : 0.9257 

 -- High Heat :: 0.9500 - 1.0800 :: 0.9500 - 1.0800 :: 0.9300 - 1.0700 :: 0.9300 - 1.0500 :: 0.9300 - 1.0325 :: 0.9974 : 1.0340 

WHEY POWDER (Nonhygroscopic) 

 -- Central (f.o.b.) :: 0.2700 - 0.4000 :: 0.2400 - 0.4000 :: 0.2250 - 0.4200 :: 0.2250 - 0.4000 :: 0.2500 - 0.4200 :: 0.3231 : 0.4625 

 -- Mostly :: 0.2725 - 0.3450 :: 0.2825 - 0.3450 :: 0.2850 - 0.3600 :: 0.2850 - 0.3600 :: 0.2850 - 0.3600 :: 0.3198 : 0.4488 

 -- West (f.o.b.) :: 0.2725 - 0.4000 :: 0.2725 - 0.4000 :: 0.2800 - 0.4100 :: 0.2975 - 0.4000 :: 0.2975 - 0.4200 :: 0.3467 : 0.4591 

 -- Mostly :: 0.3000 - 0.3450 :: 0.3000 - 0.3450 :: 0.3000 - 0.3500 :: 0.3000 - 0.3500 :: 0.3000 - 0.3500 :: 0.3243 : 0.4415 

 -- Northeast (f.o.b.) :: 0.2700 - 0.3600 :: 0.2725 - 0.3600 :: 0.2800 - 0.3725 :: 0.2800 - 0.3900 :: 0.3000 - 0.4050 :: 0.3317 : 0.4532 

WHEY PROTEIN CONCENTRATE 

-- Central And West (f.o.b.) 

 -- Extra Grade 34% Protein :: 0.6800 - 0.9400 :: 0.7300 - 0.9400 :: 0.7300 - 0.9550 :: 0.7200 - 0.9600 :: 0.7200 - 0.9600 :: 0.8380 : 0.9914 

 -- Mostly :: 0.7400 - 0.8100 :: 0.7500 - 0.8300 :: 0.7500 - 0.8400 :: 0.7400 - 0.8450 :: 0.7400 - 0.8725 :: 0.7949 : 0.9013 

ANIMAL FEED - WHEY 

-- Central (f.o.b.) 

 -- Milk Replacer :: 0.1500 - 0.2200 :: 0.2000 - 0.2800 :: 0.2000 - 0.2800 :: 0.2000 - 0.2800 :: 0.2000 - 0.2400 :: 0.2326 : 0.3936 

BUTTERMILK (Min. 30% protein) 

-- Central And East (f.o.b.) :: 0.7100 - 0.8200 :: 0.7100 - 0.8200 :: 0.7100 - 0.8200 :: 0.7350 - 0.8000 :: 0.7350 - 0.8000 :: 0.7662 : 0.8673 

-- West (f.o.b.) :: 0.7000 - 0.8200 :: 0.7000 - 0.8200 :: 0.7000 - 0.8200 :: 0.7000 - 0.8200 :: 0.7000 - 0.8200 :: 0.7600 : 0.8759 

 -- Mostly :: 0.7300 - 0.7800 :: 0.7300 - 0.7800 :: 0.7300 - 0.7800 :: 0.7300 - 0.7800 :: 0.7300 - 0.7800 :: 0.7550 : 0.8920 

DRY WHOLE MILK 

-- National (f.o.b.) :: 1.5000 - 1.6500 :: 1.5000 - 1.6500 :: 1.5300 - 1.6500 :: 1.5000 - 1.7500 :: 1.5000 - 1.7500 :: 1.6024 : 1.4173 

LACTOSE 

-- Central And West (f.o.b.) :: 0.1800 - 0.3900 :: 0.1800 - 0.3900 :: 0.1800 - 0.3900 :: 0.1800 - 0.3900 :: 0.1800 - 0.3900 :: 0.2850 : 0.4365 

 -- Mostly :: 0.2325 - 0.3000 :: 0.2325 - 0.3000 :: 0.2400 - 0.3200 :: 0.2400 - 0.3200 :: 0.2600 - 0.3300 :: 0.2796 : 0.3998 

CASEIN - Edible - National (f.o.b.) 

 -- Nonrestricted - Rennet :: 2.1650 - 2.4900 :: 2.2500 - 2.5200 :: 2.2500 - 2.5200 :: 2.1900 - 2.5500 :: 2.1900 - 2.5500 :: 2.3751 : 2.9341 

 -- Nonrestricted - Acid :: 2.8900 - 3.1500 :: 2.9000 - 3.1600 :: 2.9000 - 3.1600 :: 2.9000 - 3.2000 :: 2.9000 - 3.2000 :: 3.0390 : 3.5386 

---------------------------------------------------------------------------------------------------------------------------------------------------------

1 Prices for all products are issued once a week and represent a value for the entire week. Monthly averages are based on weekly prices and are 

time-weighted according to the number of workdays in the month - Saturdays, Sundays and National Holidays excluded. No monthly average is computed if 

one or more weekly prices are missing. 
44

 DAIRY MARKET NEWS INTERNATIONAL MONTHLY SUMMARY AND AVERAGES FOR JUNE 20181

 (UNLESS OTHERWISE NOTED, PRICES ARE U.S.DOLLARS/METRIC TON, F.O.B. PORT) 

 

 ::REPORT NUMBER 23 ::REPORT NUMBER 25 ::REPORT NUMBER 27 :: 2018 * : 2017 * 

 COMMODITY ::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: JUN 1 – 8 :: JUN 11 - 22 :: JUN 25 - 29 :: Average : Average 

--------------------------------------------------------------------------------------------------------------

 

BUTTER (82% BUTTERFAT) 

 -- OCEANIA :: 5525 - 5900 :: 5550 - 5825 :: 5375 - 5425 :: 5626 : 5785 

 -- WESTERN EUROPE :: 7125 - 7300 :: 6925 - 7300 :: 6650 - 7100 :: 7085 : 6430 

BUTTEROIL (99% BUTTERFAT) 

 -- WESTERN EUROPE :: 6300 - 8800 :: 5950 - 8875 :: 6725 - 8725 :: 7526 : 6076 

CHEDDAR CHEESE (39% MAXIMUM MOISTURE) 

 -- OCEANIA :: 3975 - 4100 :: 3800 - 4050 :: 3675 - 3900 :: 3924 : 3919 

SKIM MILK POWDER (1.25% BUTTERFAT) 

 -- OCEANIA :: 2025 - 2300 :: 1900 - 2225 :: 1925 - 2075 :: 2076 : 2098

 -- SOUTH AMERICA :: 2300 - 2600 :: 2200 - 2550 :: 2175 - 2525 :: 2390 : 2890

 -- WESTERN EUROPE :: 1775 - 1950 :: 1800 - 1950 :: 1800 - 1925 :: 1868 : 2223 

WHEY POWDER (NONHYGROSCOPIC) 

 -- WESTERN EUROPE :: 0825 - 0975 :: 0900 - 0975 :: 0925 - 1025 :: 936 : 1197 

WHOLE MILK POWDER (26% BUTTERFAT) 

 -- OCEANIA :: 3175 - 3350 :: 3175 - 3225 :: 2850 - 3225 :: 3179 : 3152 

 -- SOUTH AMERICA :: 3100 - 3300 :: 3050 - 3350 :: 2950 - 3300 :: 3182 : 3397 

 -- WESTERN EUROPE :: 3275 - 3475 :: 3300 - 3475 :: 3250 - 3375 :: 3366 : 3458 

--------------------------------------------------------------------------------------------------------------

1 Prices for all products are issued biweekly and represent a value for the entire biweekly period. Monthly 

averages are based on biweekly prices and are time-weighted according to the number of workdays in the month -

Saturdays and Sundays excluded. No monthly average is computed if one or more biweekly prices are missing. 
45

CME GROUP AVERAGES FOR JUNE 2018

 ::REPORT NUMBER 22::REPORT NUMBER 23::REPORT NUMBER 24::REPORT NUMBER 25::REPORT NUMBER 26:: 2018 * : 2017 * 

 COMMODITY ::----------------::----------------::----------------::----------------::----------------:: Monthly : Monthly 

 :: JUN 1 :: JUN 4 - 8 :: JUN 11 - 15 :: JUN 18 - 22 :: JUN 25 - 29 :: Average : Average 

------------------------------------------------------------------------------------------------------------------------------------

 

 BUTTER* 

 

-- GRADE AA 

 --Monday :: :: 2.3775 :: 2.3900 :: 2.3225 :: 2.2550 :: : 

 --Tuesday :: :: 2.3625 :: 2.3700 :: 2.3100 :: 2.2450 :: : 

 --Wednesday :: :: 2.3800 :: 2.3575 :: 2.2875 :: 2.2525 :: : 

 --Thursday :: :: 2.3900 :: 2.3500 :: 2.2900 :: 2.2500 :: : 

 --Friday :: 2.3775 :: 2.3900 :: 2.3525 :: 2.2900 :: 2.2675 :: 2.3270 : 2.5688 

 

--Weekly Average** :: 2.4025 :: 2.3800 :: 2.3640 :: 2.3000 :: 2.2540 :: : 

 

 CHEESE* 

 

-- BARRELS 

 --Monday :: :: 1.5200 :: 1.5650 :: 1.3950 :: 1.2050 :: : 

 --Tuesday :: :: 1.5050 :: 1.5400 :: 1.3250 :: 1.2050 :: : 

 --Wednesday :: :: 1.5050 :: 1.5400 :: 1.2925 :: 1.2550 :: : 

 --Thursday :: :: 1.5175 :: 1.4800 :: 1.3100 :: 1.3350 :: : 

 --Friday :: 1.5200 :: 1.5650 :: 1.4500 :: 1.2850 :: 1.3900 :: 1.4145 : 1.3972 

 

--Weekly Average** :: 1.5444 :: 1.5225 :: 1.5150 :: 1.3215 :: 1.2780 :: : 

 

-- 40# BLOCKS 

 --Monday :: :: 1.5925 :: 1.6350 :: 1.5950 :: 1.4500 :: : 

 --Tuesday :: :: 1.5750 :: 1.6400 :: 1.5675 :: 1.4600 :: : 

 --Wednesday :: :: 1.5800 :: 1.6400 :: 1.5050 :: 1.4850 :: : 

 --Thursday :: :: 1.6000 :: 1.5900 :: 1.4950 :: 1.5125 :: : 

 --Friday :: 1.5975 :: 1.6350 :: 1.5950 :: 1.4900 :: 1.5550 :: 1.5617 : 1.6022 

 

--Weekly Average** :: 1.6081 :: 1.5965 :: 1.6200 :: 1.5305 :: 1.4925 :: : 

 

 NONFAT DRY MILK* 

 

-- GRADE A 

 --Monday :: :: 0.8150 :: 0.7925 :: 0.7600 :: 0.7375 :: : 

 --Tuesday :: :: 0.8100 :: 0.7875 :: 0.7525 :: 0.7475 :: : 

 --Wednesday :: :: 0.8125 :: 0.7800 :: 0.7675 :: 0.7525 :: : 

 --Thursday :: :: 0.8125 :: 0.7875 :: 0.7700 :: 0.7475 :: : 

 --Friday :: 0.8250 :: 0.8050 :: 0.7875 :: 0.7625 :: 0.7475 :: 0.7790 : 0.8902 

 

--Weekly Average** :: 0.8338 :: 0.8110 :: 0.7870 :: 0.7625 :: 0.7465 :: : 

 

 WHEY* 

 

-- EXTRA GRADE 

 --Monday :: :: 0.4000 :: 0.4175 :: 0.4000 :: 0.4000 :: : 

 --Tuesday :: :: 0.4025 :: 0.4175 :: 0.3950 :: 0.3900 :: : 

 --Wednesday :: :: 0.4050 :: 0.4100 :: 0.3900 :: 0.4025 :: : 

 --Thursday :: :: 0.4075 :: 0.4100 :: 0.3900 :: 0.4125 :: : 

 --Friday :: 0.3850 :: 0.4125 :: 0.4100 :: 0.3975 :: 0.4075 :: 0.4030 : 

 

--Weekly Average** :: 0.3825 :: 0.4055 :: 0.4130 :: 0.3945 :: 0.4025 :: : 

 

------------------------------------------------------------------------------------------------------------------------------------

* Monthly averages are a simple average of all the closes during the month. Weekly and monthly averages are independent 

calculations. 

** Weekly averages are simple averages of the closes during the calendar week and are for information purposes. Should the 

week be split between two months, the weekly average will appear in the monthly report in which the Friday close is reported. 
46

DAIRY MARKET NEWS DOMESTIC MONTHLY SUMMARY AND AVERAGES FOR JULY 20181 - (UNLESS OTHERWISE NOTED, PRICES ARE DOLLARS PER POUND, CL/TL)

 

 ::REPORT NUMBER 27 ::REPORT NUMBER 28 ::REPORT NUMBER 29 ::REPORT NUMBER 30 ::REPORT NUMBER 31 :: 2018 : 2017 

 COMMODITY ::-----------------::-----------------::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: JUL 2 - 6 :: JUL 9 - 13 :: JUL 16 - 20 :: JUL 23 - 27 :: JUL 30 - 31 :: Average : Average 

 

 CHEESE 

WISCONSIN (WSP, Delivered, LTL) 

-- Process American 5# Loaf :: 1.3700 - 1.7300 :: 1.4225 - 1.7825 :: 1.4500 - 1.8100 :: 1.4325 - 1.7925 :: 1.5300 - 1.8900 :: 1.6117 : 1.6835 

-- Brick And/Or Muenster 5# :: 1.8550 - 2.2800 :: 1.9175 - 2.3425 :: 1.9125 - 2.3375 :: 1.9000 - 2.3250 :: 1.8800 - 2.3050 :: 2.1092 : 2.1850 

-- Cheddar 40# Block :: 1.5825 - 1.9775 :: 1.6450 - 2.0400 :: 1.6400 - 2.0350 :: 1.6275 - 2.0225 :: 1.6075 - 2.0025 :: 1.8217 : 1.8975 

-- Monterey Jack 10# :: 1.8300 - 2.0350 :: 1.8925 - 2.0975 :: 1.8875 - 2.0925 :: 1.8750 - 2.0800 :: 1.8550 - 2.0600 :: 1.9742 : 2.0500 

-- Blue 5# :: 2.1225 - 3.1100 :: 2.1850 - 3.1725 :: 2.1800 - 3.1675 :: 2.1675 - 3.1550 :: 2.1475 - 3.1350 :: 2.6579 : 2.7338 

-- Mozzarella 5 - 6# :: 1.6550 - 2.5950 :: 1.7175 - 2.6575 :: 1.7125 - 2.6525 :: 1.7000 - 2.6400 :: 1.6800 - 2.6200 :: 2.1667 : 2.2425 

-- Grade A Swiss Cuts 6 - 9# :: 2.5450 - 2.6625 :: 2.5725 - 2.6900 :: 2.5725 - 2.6900 :: 2.5725 - 2.6900 :: 2.5725 - 2.6900 :: 2.6260 : 2.7088 

NORTHEAST (WSP, Delivered, LTL) 

-- Cheddar 40# Block :: 1.9475 - 2.2325 :: 2.0100 - 2.2950 :: 2.0050 - 2.2900 :: 1.9925 - 2.2775 :: 1.9725 - 2.2575 :: 2.1317 : 2.1900 

-- Process 5# Sliced :: 1.4150 - 1.8950 :: 1.4675 - 1.9475 :: 1.4950 - 1.9750 :: 1.4775 - 1.9575 :: 1.5750 - 2.0550 :: 1.7167 : 1.8060 

-- Muenster :: 1.9325 - 2.2825 :: 1.9950 - 2.3450 :: 1.9900 - 2.3400 :: 1.9775 - 2.3275 :: 1.9575 - 2.3075 :: 2.1492 : 2.2075 

-- Grade A Swiss Cuts 10 - 14# :: 3.0275 - 3.3500 :: 3.0550 - 3.3775 :: 3.0550 - 3.3775 :: 3.0550 - 3.3775 :: 3.0550 - 3.3775 :: 3.2110 : 3.2938 

WEST COAST (WSP, Delivered, LTL) 

-- Process 5# Loaf :: 1.3575 - 1.6150 :: 1.4100 - 1.6675 :: 1.4375 - 1.6950 :: 1.4200 - 1.6775 :: 1.5175 - 1.7750 :: 1.5479 : 1.6198 

-- Cheddar 40# Block :: 1.6150 - 2.0600 :: 1.6775 - 2.1225 :: 1.6725 - 2.1175 :: 1.6600 - 2.1050 :: 1.6400 - 2.0850 :: 1.8792 : 1.9550 

-- Cheddar 10# Cuts :: 1.7950 - 2.0150 :: 1.8575 - 2.0775 :: 1.8525 - 2.0725 :: 1.8400 - 2.0600 :: 1.8200 - 2.0400 :: 1.9467 : 2.0225 

-- Monterey Jack 10# :: 1.8050 - 1.9650 :: 1.8675 - 2.0275 :: 1.8625 - 2.0225 :: 1.8500 - 2.0100 :: 1.8300 - 1.9900 :: 1.9267 : 2.0025 

-- Grade A Swiss Cuts 6 - 9# :: 2.6250 - 3.0550 :: 2.6525 - 3.0825 :: 2.6525 - 3.0825 :: 2.6525 - 3.0825 :: 2.6525 - 3.0825 :: 2.8623 : 2.9250 

 

 

 FLUID PRODUCTS 

SPOT PRICES OF CLASS II CREAM ($ per lb. butterfat) 

 -- Northeast - f.o.b :: 2.8175 - 3.0429 :: 2.8608 - 3.0808 :: 2.9869 - 3.2081 :: 3.0586 - 3.3285 :: 3.0661 - 3.3141 :: 3.0672 : 3.3675 

 -- Upper Midwest - f.o.b :: 2.8175 - 2.9300 :: 2.7728 - 2.9488 :: 2.8320 - 3.0090 :: 2.9687 - 3.1486 :: 2.9309 - 3.2014 :: 2.9441 : 3.2857 

PRICES OF CONDENSED SKIM - NORTHEAST ($ per lb. wet solids) - f.o.b. 

 -- Class II :: 0.45 - 0.88 :: 0.45 - 0.88 :: 0.45 - 0.88 :: 0.65 - 0.88 :: 0.65 - 0.88 :: 0.6983 : 0.5375 

 -- Class III :: 0.49 - 0.85 :: 0.49 - 0.87 :: 0.49 - 0.87 :: 0.60 - 0.85 :: 0.60 - 0.85 :: 0.6931 : 0.5138 
47

DAIRY MARKET NEWS DOMESTIC MONTHLY SUMMARY AND AVERAGES FOR JULY 20181 - (UNLESS OTHERWISE NOTED, PRICES ARE DOLLARS PER POUND, CL/TL)

 

 ::REPORT NUMBER 27 ::REPORT NUMBER 28 ::REPORT NUMBER 29 ::REPORT NUMBER 30 ::REPORT NUMBER 31 :: 2018 : 2017 

 COMMODITY ::-----------------::-----------------::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: JUL 2 - 6 :: JUL 9 - 13 :: JUL 16 - 20 :: JUL 23 - 27 :: JUL 30 - 31 :: Average : Average 

 

 DRY PRODUCTS 

NONFAT DRY MILK 

-- Central And East (f.o.b.) 

 -- Low/Medium Heat :: 0.7525 - 0.8500 :: 0.7525 - 0.8400 :: 0.7400 - 0.8500 :: 0.7500 - 0.8500 :: 0.7650 - 0.8650 :: 0.7996 : 0.9023 

 -- Mostly :: 0.7800 - 0.8175 :: 0.7750 - 0.8175 :: 0.7750 - 0.8100 :: 0.7750 - 0.8200 :: 0.7875 - 0.8400 :: 0.7978 : 0.9000 

 -- High Heat :: 0.9350 - 1.0350 :: 0.9000 - 1.0350 :: 0.9000 - 1.0000 :: 0.9000 - 1.0000 :: 0.9500 - 1.0500 :: 0.9656 : 1.0440 

-- West (f.o.b) 

 -- Low/Medium Heat :: 0.7000 - 0.8600 :: 0.7000 - 0.8200 :: 0.7000 - 0.8100 :: 0.7200 - 0.8500 :: 0.7600 - 0.9000 :: 0.7752 : 0.8788 

 -- Mostly :: 0.7400 - 0.8200 :: 0.7200 - 0.8000 :: 0.7200 - 0.8000 :: 0.7450 - 0.8300 :: 0.7900 - 0.8500 :: 0.7761 : 0.8940 

 -- High Heat :: 0.9300 - 1.0225 :: 0.9000 - 1.0175 :: 0.9000 - 1.0175 :: 0.9000 - 1.0175 :: 0.9500 - 1.0500 :: 0.9660 : 1.0226 

WHEY POWDER (Nonhygroscopic) 

 -- Central (f.o.b.) :: 0.2500 - 0.4100 :: 0.2500 - 0.4100 :: 0.2475 - 0.4100 :: 0.2650 - 0.4200 :: 0.2650 - 0.4300 :: 0.3343 : 0.4258 

 -- Mostly :: 0.2850 - 0.3600 :: 0.3150 - 0.3600 :: 0.3200 - 0.3800 :: 0.3350 - 0.3800 :: 0.3375 - 0.4100 :: 0.3458 : 0.4280 

 -- West (f.o.b.) :: 0.2975 - 0.4200 :: 0.3000 - 0.4200 :: 0.3200 - 0.4200 :: 0.3200 - 0.4200 :: 0.3350 - 0.4475 :: 0.3675 : 0.4329 

 -- Mostly :: 0.3000 - 0.3500 :: 0.3200 - 0.3700 :: 0.3350 - 0.3900 :: 0.3375 - 0.4050 :: 0.3600 - 0.4050 :: 0.3552 : 0.4256 

 -- Northeast (f.o.b.) :: 0.3000 - 0.4050 :: 0.3200 - 0.4050 :: 0.3300 - 0.4200 :: 0.3350 - 0.4200 :: 0.3375 - 0.4200 :: 0.3687 : 0.4266 

WHEY PROTEIN CONCENTRATE 

-- Central And West (f.o.b.) 

 -- Extra Grade 34% Protein :: 0.7200 - 0.9575 :: 0.7000 - 0.9725 :: 0.7000 - 0.9725 :: 0.7000 - 0.9750 :: 0.7000 - 0.9775 :: 0.8373 : 0.9635 

 -- Mostly :: 0.7400 - 0.8725 :: 0.7400 - 0.8725 :: 0.7400 - 0.8800 :: 0.7400 - 0.8850 :: 0.7400 - 0.8850 :: 0.8092 : 0.8919 

ANIMAL FEED - WHEY 

-- Central (f.o.b.) 

 -- Milk Replacer :: 0.2000 - 0.2400 :: 0.2000 - 0.2400 :: 0.2000 - 0.2750 :: 0.2000 - 0.3000 :: 0.2000 - 0.3100 :: 0.2346 : 0.3878 

BUTTERMILK (Min. 30% protein) 

-- Central And East (f.o.b.) :: 0.7500 - 0.8000 :: 0.7500 - 0.8000 :: 0.7500 - 0.8000 :: 0.7650 - 0.8200 :: 0.7800 - 0.8200 :: 0.7815 : 0.8821 

-- West (f.o.b.) :: 0.7000 - 0.8200 :: 0.7000 - 0.8200 :: 0.7000 - 0.8200 :: 0.7000 - 0.8200 :: 0.7200 - 0.8600 :: 0.7629 : 0.8830 

 -- Mostly :: 0.7300 - 0.7800 :: 0.7200 - 0.7500 :: 0.7200 - 0.7500 :: 0.7200 - 0.7900 :: 0.7500 - 0.8200 :: 0.7483 : 0.9115 

DRY WHOLE MILK 

-- National (f.o.b.) :: 1.5000 - 1.7500 :: 1.4500 - 1.7500 :: 1.4500 - 1.7500 :: 1.4500 - 1.7500 :: 1.4400 - 1.7000 :: 1.6019 : 1.4475 

LACTOSE 

-- Central And West (f.o.b.) :: 0.1800 - 0.3900 :: 0.2200 - 0.3900 :: 0.2300 - 0.3900 :: 0.2400 - 0.3900 :: 0.2400 - 0.3900 :: 0.3057 : 0.3880 

 -- Mostly :: 0.2600 - 0.3300 :: 0.2600 - 0.3450 :: 0.2800 - 0.3500 :: 0.2900 - 0.3500 :: 0.2900 - 0.3500 :: 0.3099 : 0.3745 

CASEIN - Edible - National (f.o.b.) 

 -- Nonrestricted - Rennet :: 2.2500 - 2.5500 :: 2.2500 - 2.5500 :: 2.0700 - 2.2800 :: 2.0700 - 2.2800 :: 2.0700 - 2.2800 :: 2.2714 : 2.7675 

 -- Nonrestricted - Acid :: 2.9100 - 3.2200 :: 2.9100 - 3.2200 :: 2.8900 - 3.2000 :: 2.8900 - 3.2000 :: 2.8900 - 3.2000 :: 3.0536 : 3.5238 

---------------------------------------------------------------------------------------------------------------------------------------------------------

1 Prices for all products are issued once a week and represent a value for the entire week. Monthly averages are based on weekly prices and are 

time-weighted according to the number of workdays in the month - Saturdays, Sundays and National Holidays excluded. No monthly average is computed if 

one or more weekly prices are missing. 
48

 DAIRY MARKET NEWS INTERNATIONAL MONTHLY SUMMARY AND AVERAGES FOR JULY 20181

 (UNLESS OTHERWISE NOTED, PRICES ARE U.S. DOLLARS/METRIC TON, F.O.B. PORT) 

 

--------------------------------------------------------------------------------------------------------------

 ::REPORT NUMBER 27 ::REPORT NUMBER 29 ::REPORT NUMBER 31 :: 2018 * : 2017 * 

 COMMODITY ::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: JUL 2 - 6 :: JUL 9 - 20 :: JUL 23 - 31 :: Average : Average 

--------------------------------------------------------------------------------------------------------------

 

BUTTER (82% BUTTERFAT) 

 -- OCEANIA :: 5375 - 5425 :: 4875 - 5100 :: 4950 - 5100 :: 5093 : 6046 

 -- WESTERN EUROPE :: 6650 - 7100 :: 6325 - 6675 :: 6125 - 6550 :: 6534 : 7205 

BUTTEROIL (99% BUTTERFAT) 

 -- WESTERN EUROPE :: 6725 - 8725 :: 6900 - 8325 :: 6600 - 8200 :: 7570 : 7000 

CHEDDAR CHEESE (39% MAXIMUM MOISTURE) 

 -- OCEANIA :: 3675 - 3900 :: 3550 - 3675 :: 3600 - 3800 :: 3680 : 4027 

SKIM MILK POWDER (1.25% BUTTERFAT) 

 -- OCEANIA :: 1925 - 2075 :: 1950 - 2150 :: 1950 - 2125 :: 2035 : 2057 

 -- SOUTH AMERICA :: 2175 - 2525 :: 2175 - 2525 :: 2250 - 2550 :: 2366 : 2982

 -- WESTERN EUROPE :: 1800 - 1925 :: 1725 - 1875 :: 1650 - 1800 :: 1790 : 2096 

WHEY POWDER (NONHYGROSCOPIC) 

 -- WESTERN EUROPE :: 0925 - 1025 :: 0925 - 1025 :: 0900 - 1025 :: 971 : 1052 

WHOLE MILK POWDER (26% BUTTERFAT) 

 -- OCEANIA :: 2850 - 3225 :: 2950 - 3025 :: 2975 - 3025 :: 3003 : 3192 

 -- SOUTH AMERICA :: 2950 - 3300 :: 2950 - 3300 :: 2850 - 3250 :: 3101 : 3336 

 -- WESTERN EUROPE :: 3250 - 3375 :: 3275 - 3350 :: 3225 - 3300 :: 3297 : 3554 

--------------------------------------------------------------------------------------------------------------

1 Prices for all products are issued biweekly and represent a value for the entire biweekly period. Monthly 

averages are based on biweekly prices and are time-weighted according to the number of workdays in the month -

Saturdays and Sundays excluded. No monthly average is computed if one or more biweekly prices are missing. 
49

CME GROUP AVERAGES FOR JULY 2018

 ::REPORT NUMBER 27::REPORT NUMBER 28::REPORT NUMBER 29::REPORT NUMBER 30::REPORT NUMBER 31:: 2018 * : 2017 * 

 COMMODITY ::----------------::----------------::----------------::----------------::----------------:: Monthly : Monthly 

 :: JUL 2 - 6 :: JUL 9 - 13 :: JUL 16 - 20 :: JUL 23 - 27 :: JUL 30 - 31 :: Average : Average 

------------------------------------------------------------------------------------------------------------------------------------

 

 BUTTER* 

 

-- GRADE AA 

 --Monday :: 2.2525 :: 2.2000 :: 2.2400 :: 2.2900 :: 2.2650 :: : 

 --Tuesday :: 2.2000 :: 2.2250 :: 2.2525 :: 2.2250 :: 2.3100 :: : 

 --Wednesday :: 1 :: 2.2000 :: 2.2525 :: 2.2250 :: :: : 

 --Thursday :: 2.1800 :: 2.2125 :: 2.2500 :: 2.2700 :: :: : 

 --Friday :: 2.1700 :: 2.2250 :: 2.2500 :: 2.2625 :: :: 2.2361 : 2.6195 

 

--Weekly Average** :: 2.2006 :: 2.2125 :: 2.2490 :: 2.2545 :: 

 

 CHEESE* 

 

-- BARRELS 

 --Monday :: 1.4300 :: 1.2625 :: 1.4225 :: 1.2900 :: 1.4050 :: : 

 --Tuesday :: 1.3625 :: 1.3375 :: 1.3750 :: 1.4000 :: 1.4075 :: : 

 --Wednesday :: 1 :: 1.3500 :: 1.3100 :: 1.4800 :: :: : 

 --Thursday :: 1.2800 :: 1.4125 :: 1.3150 :: 1.4875 :: :: : 

 --Friday :: 1.2450 :: 1.4225 :: 1.2700 :: 1.5200 :: :: 1.3707 : 1.4396 

 

--Weekly Average** :: 1.3294 :: 1.3570 :: 1.3385 :: 1.4355 :: 

 

-- 40# BLOCKS 

 --Monday :: 1.5825 :: 1.5425 :: 1.5650 :: 1.5200 :: 1.5200 :: : 

 --Tuesday :: 1.5500 :: 1.5425 :: 1.5275 :: 1.5300 :: 1.5000 :: : 

 --Wednesday :: 1 :: 1.5425 :: 1.5400 :: 1.5100 :: :: : 

 --Thursday :: 1.5425 :: 1.5650 :: 1.5325 :: 1.5100 :: :: : 

 --Friday :: 1.5425 :: 1.5600 :: 1.5200 :: 1.5200 :: :: 1.5364 : 1.6586 

 

--Weekly Average** :: 1.5544 :: 1.5505 :: 1.5370 :: 1.5180 :: 

 

 NONFAT DRY MILK* 

 

-- GRADE A 

 --Monday :: 0.7400 :: 0.7725 :: 0.7550 :: 0.7975 :: 0.8150 :: : 

 --Tuesday :: 0.7400 :: 0.7725 :: 0.7675 :: 0.7975 :: 0.8375 :: : 

 --Wednesday :: 1 :: 0.7575 :: 0.7675 :: 0.8050 :: :: : 

 --Thursday :: 0.7425 :: 0.7625 :: 0.7675 :: 0.8175 :: :: : 

 --Friday :: 0.7725 :: 0.7550 :: 0.7850 :: 0.8175 :: :: 0.7783 : 0.8616 

 

--Weekly Average** :: 0.7488 :: 0.7640 :: 0.7685 :: 0.8070 :: 

 

 WHEY* 

 

-- EXTRA GRADE 

 --Monday :: 0.4100 :: 0.3975 :: 0.4150 :: 0.4200 :: 0.4250 :: : 

 --Tuesday :: 0.4000 :: 0.4050 :: 0.4150 :: 0.4100 :: 0.4250 :: : 

 --Wednesday :: 1 :: 0.4100 :: 0.4150 :: 0.4100 :: :: : 

 --Thursday :: 0.3925 :: 0.4175 :: 0.4150 :: 0.4125 :: :: : 

 --Friday :: 0.3900 :: 0.4175 :: 0.4200 :: 0.4250 :: :: 0.4118 : 

 

--Weekly Average** :: 0.3981 :: 0.4095 :: 0.4160 :: 0.4155 :: 

 

------------------------------------------------------------------------------------------------------------------------------------

* Monthly averages are a simple average of all the closes during the month. Weekly and monthly averages are independent 

calculations. 

** Weekly averages are simple averages of the closes during the calendar week and are for information purposes. Should the 

week be split between two months, the weekly average will appear in the monthly report in which the Friday close is reported. 

1/ CME was closed for the July 4th holiday.
50

DAIRY MARKET NEWS DOMESTIC MONTHLY SUMMARY AND AVERAGES FOR AUGUST 20181 - (UNLESS OTHERWISE NOTED, PRICES ARE DOLLARS PER POUND, CL/TL)

 

 ::REPORT NUMBER 31 ::REPORT NUMBER 32 ::REPORT NUMBER 33 ::REPORT NUMBER 34 ::REPORT NUMBER 35 :: 2018 : 2017 

 COMMODITY ::-----------------::-----------------::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: AUG 1 - 3 :: AUG 6 - 10 :: AUG 13 - 17 :: AUG 20 - 24 :: AUG 27 - 31 :: Average : Average 

 

 CHEESE 

 

WISCONSIN (WSP, Delivered, LTL) 

-- Process American 5# Loaf :: 1.5300 - 1.8900 :: 1.5300 - 1.8900 :: 1.6300 - 1.9900 :: 1.7625 - 2.1225 :: 1.6850 - 2.0450 :: 1.8160 : 1.8645 

-- Brick And/Or Muenster 5# :: 1.8800 - 2.3050 :: 1.9050 - 2.3300 :: 1.9725 - 2.3975 :: 2.0175 - 2.4425 :: 1.9975 - 2.4225 :: 2.1735 : 2.2963 

-- Cheddar 40# Block :: 1.6075 - 2.0025 :: 1.6325 - 2.0275 :: 1.7000 - 2.0950 :: 1.7450 - 2.1400 :: 1.7250 - 2.1200 :: 1.8860 : 2.0088 

-- Monterey Jack 10# :: 1.8550 - 2.0600 :: 1.8800 - 2.0850 :: 1.9475 - 2.1525 :: 1.9925 - 2.1975 :: 1.9725 - 2.1775 :: 2.0385 : 2.1613 

-- Blue 5# :: 2.1475 - 3.1350 :: 2.1725 - 3.1600 :: 2.2400 - 3.2275 :: 2.2850 - 3.2725 :: 2.2650 - 3.2525 :: 2.7222 : 2.8451 

-- Mozzarella 5 - 6# :: 1.6800 - 2.6200 :: 1.7050 - 2.6450 :: 1.7725 - 2.7125 :: 1.8175 - 2.7575 :: 1.7975 - 2.7375 :: 2.2310 : 2.3538 

-- Grade A Swiss Cuts 6 - 9# :: 2.5725 - 2.6900 :: 2.6525 - 2.7700 :: 2.6525 - 2.7700 :: 2.6525 - 2.7700 :: 2.6525 - 2.7700 :: 2.7008 : 2.7418 

NORTHEAST (WSP, Delivered, LTL) 

-- Cheddar 40# Block :: 1.9725 - 2.2575 :: 1.9975 - 2.2825 :: 2.0650 - 2.3500 :: 2.1100 - 2.3950 :: 2.0900 - 2.3750 :: 2.1960 : 2.3013 

-- Process 5# Sliced :: 1.5750 - 2.0550 :: 1.5750 - 2.0550 :: 1.6750 - 2.1550 :: 1.8075 - 2.2875 :: 1.7300 - 2.2100 :: 1.9210 : 1.9870 

-- Muenster :: 1.9575 - 2.3075 :: 1.9825 - 2.3325 :: 2.0500 - 2.4000 :: 2.0950 - 2.4450 :: 2.0750 - 2.4250 :: 2.2135 : 2.3188 

-- Grade A Swiss Cuts 10 - 14# :: 3.0550 - 3.3775 :: 3.1350 - 3.4575 :: 3.1350 - 3.4575 :: 3.1350 - 3.4575 :: 3.1350 - 3.4575 :: 3.2858 : 3.3268 

WEST COAST (WSP, Delivered, LTL) 

-- Process 5# Loaf :: 1.5175 - 1.7750 :: 1.5175 - 1.7750 :: 1.6175 - 1.8750 :: 1.7500 - 2.0075 :: 1.6725 - 1.9300 :: 1.7522 : 1.8007 

-- Cheddar 40# Block :: 1.6400 - 2.0850 :: 1.6650 - 2.1100 :: 1.7325 - 2.1775 :: 1.7775 - 2.2225 :: 1.7575 - 2.2025 :: 1.9435 : 2.0663 

-- Cheddar 10# Cuts :: 1.8200 - 2.0400 :: 1.8450 - 2.0650 :: 1.9125 - 2.1325 :: 1.9575 - 2.1775 :: 1.9375 - 2.1575 :: 2.0110 : 2.1338 

-- Monterey Jack 10# :: 1.8300 - 1.9900 :: 1.8550 - 2.0150 :: 1.9225 - 2.0825 :: 1.9675 - 2.1275 :: 1.9475 - 2.1075 :: 1.9910 : 2.1138 

-- Grade A Swiss Cuts 6 - 9# :: 2.6525 - 3.0825 :: 2.7325 - 3.1625 :: 2.7325 - 3.1625 :: 2.7325 - 3.1625 :: 2.7325 - 3.1625 :: 2.9371 : 2.9580 

 

 

 FLUID PRODUCTS 

SPOT PRICES OF CLASS II CREAM ($ per lb. butterfat) 

 -- Northeast - f.o.b :: 3.0661 - 3.3141 :: 3.1375 - 3.3913 :: 3.1374 - 3.3698 :: 2.8176 - 3.1698 :: 2.8113 - 3.0362 :: 3.1195 : 3.5300 

 -- Upper Midwest - f.o.b :: 2.9309 - 3.2014 :: 2.9991 - 3.3452 :: 3.0212 - 3.2536 :: 2.9820 - 3.1463 :: 2.8562 - 2.9912 :: 3.0733 : 3.4054 

PRICES OF CONDENSED SKIM - NORTHEAST ($ per lb. wet solids) - f.o.b. 

 -- Class II :: 0.65 - 0.88 :: 0.65 - 0.88 :: 0.65 - 0.88 :: 0.65 - 0.88 :: 0.85 - 0.91 :: 0.7900 : 0.6215 

 -- Class III :: 0.60 - 0.85 :: 0.60 - 0.85 :: 0.60 - 0.85 :: 0.60 - 0.85 :: 0.70 - 0.85 :: 0.7359 : 0.5841 

This monthly average report format was discontinued as of August 31, 2018. 
51

DAIRY MARKET NEWS DOMESTIC MONTHLY SUMMARY AND AVERAGES FOR AUGUST 20181 - (UNLESS OTHERWISE NOTED, PRICES ARE DOLLARS PER POUND, CL/TL)

 

 ::REPORT NUMBER 31 ::REPORT NUMBER 32 ::REPORT NUMBER 33 ::REPORT NUMBER 34 ::REPORT NUMBER 35 :: 2018 : 2017 

 COMMODITY ::-----------------::-----------------::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: AUG 1 - 3 :: AUG 6 - 10 :: AUG 13 - 17 :: AUG 20 - 24 :: AUG 27 - 31 :: Average : Average 

 

 DRY PRODUCTS 

 

NONFAT DRY MILK 

-- Central And East (f.o.b.) 

 -- Low/Medium Heat :: 0.7650 - 0.8650 :: 0.7650 - 0.8700 :: 0.7650 - 0.8700 :: 0.8125 - 0.8800 :: 0.8200 - 0.9000 :: 0.8327 : 0.8952 

 -- Mostly :: 0.7875 - 0.8400 :: 0.7875 - 0.8400 :: 0.7900 - 0.8500 :: 0.8200 - 0.8600 :: 0.8500 - 0.8750 :: 0.8314 : 0.8954 

 -- High Heat :: 0.9500 - 1.0500 :: 0.9500 - 1.0500 :: 0.9500 - 1.0500 :: 1.0000 - 1.0500 :: 1.0000 - 1.0500 :: 1.0109 : 1.0284 

-- West (f.o.b) 

 -- Low/Medium Heat :: 0.7600 - 0.9000 :: 0.7800 - 0.9100 :: 0.7675 - 0.8800 :: 0.7850 - 0.8925 :: 0.8150 - 0.9275 :: 0.8428 : 0.8633 

 -- Mostly :: 0.7900 - 0.8500 :: 0.8200 - 0.8650 :: 0.8000 - 0.8575 :: 0.8300 - 0.8700 :: 0.8500 - 0.8900 :: 0.8442 : 0.8913 

 -- High Heat :: 0.9500 - 1.0500 :: 0.9900 - 1.0675 :: 0.9900 - 1.0675 :: 1.0000 - 1.0675 :: 1.0000 - 1.0900 :: 1.0296 : 1.0241 

WHEY POWDER (Nonhygroscopic) 

 -- Central (f.o.b.) :: 0.2650 - 0.4300 :: 0.2650 - 0.4500 :: 0.2650 - 0.4500 :: 0.2650 - 0.4600 :: 0.2650 - 0.4600 :: 0.3584 : 0.3970 

 -- Mostly :: 0.3375 - 0.4100 :: 0.3375 - 0.4200 :: 0.3500 - 0.4300 :: 0.3700 - 0.4300 :: 0.3700 - 0.4500 :: 0.3920 : 0.3964 

 -- West (f.o.b.) :: 0.3350 - 0.4475 :: 0.3350 - 0.4475 :: 0.3525 - 0.4500 :: 0.3525 - 0.4600 :: 0.3525 - 0.4800 :: 0.4021 : 0.4040 

 -- Mostly :: 0.3600 - 0.4050 :: 0.3600 - 0.4200 :: 0.3725 - 0.4400 :: 0.3725 - 0.4400 :: 0.3725 - 0.4550 :: 0.4013 : 0.4050 

 -- Northeast (f.o.b.) :: 0.3375 - 0.4200 :: 0.3375 - 0.4200 :: 0.3500 - 0.4300 :: 0.3600 - 0.4400 :: 0.3700 - 0.4400 :: 0.3915 : 0.4075 

WHEY PROTEIN CONCENTRATE 

-- Central And West (f.o.b.) 

 -- Extra Grade 34% Protein :: 0.7000 - 0.9775 :: 0.7000 - 0.9800 :: 0.7000 - 0.9800 :: 0.7000 - 0.9800 :: 0.7300 - 0.9725 :: 0.8423 : 0.9110 

 -- Mostly :: 0.7400 - 0.8850 :: 0.7400 - 0.8875 :: 0.7300 - 0.8950 :: 0.7300 - 0.8950 :: 0.7450 - 0.8950 :: 0.8144 : 0.8486 

ANIMAL FEED - WHEY 

-- Central (f.o.b.) 

 -- Milk Replacer :: 0.2000 - 0.3100 :: 0.2000 - 0.3100 :: 0.2400 - 0.3200 :: 0.2400 - 0.3200 :: 0.2400 - 0.3700 :: 0.2767 : 0.3448 

BUTTERMILK (Min. 30% protein) 

-- Central And East (f.o.b.) :: 0.7800 - 0.8200 :: 0.7800 - 0.8200 :: 0.7800 - 0.8200 :: 0.7800 - 0.8200 :: 0.8150 - 0.8800 :: 0.8103 : 0.8967 

-- West (f.o.b.) :: 0.7200 - 0.8600 :: 0.7500 - 0.8650 :: 0.7500 - 0.8650 :: 0.7800 - 0.8650 :: 0.7800 - 0.8800 :: 0.8134 : 0.8909 

 -- Mostly :: 0.7500 - 0.8200 :: 0.7800 - 0.8300 :: 0.7800 - 0.8300 :: 0.8000 - 0.8500 :: 0.8000 - 0.8500 :: 0.8111 : 0.9167 

DRY WHOLE MILK 

-- National (f.o.b.) :: 1.4400 - 1.7000 :: 1.4400 - 1.6900 :: 1.4400 - 1.6900 :: 1.4400 - 1.6900 :: 1.4500 - 1.6500 :: 1.5624 : 1.5478 

LACTOSE 

-- Central And West (f.o.b.) :: 0.2400 - 0.3900 :: 0.2400 - 0.3900 :: 0.2400 - 0.3900 :: 0.2400 - 0.3900 :: 0.2400 - 0.4250 :: 0.3188 : 0.3515 

 -- Mostly :: 0.2900 - 0.3500 :: 0.2900 - 0.3600 :: 0.2900 - 0.3600 :: 0.2900 - 0.3600 :: 0.3000 - 0.3600 :: 0.3254 : 0.3435 

CASEIN - Edible - National (f.o.b.) 

 -- Nonrestricted - Rennet :: 2.0700 - 2.2800 :: 2.1700 - 2.2900 :: 2.3500 - 2.5000 :: 2.3150 - 2.5000 :: 2.3150 - 2.5000 :: 2.3424 : 2.7652 

 -- Nonrestricted - Acid :: 2.8900 - 3.2000 :: 2.9100 - 3.2000 :: 2.9900 - 3.1000 :: 2.9900 - 3.1000 :: 2.9900 - 3.1000 :: 3.0472 : 3.5000 

---------------------------------------------------------------------------------------------------------------------------------------------------------

1 Prices for all products are issued once a week and represent a value for the entire week. Monthly averages are based on weekly prices and are 

time-weighted according to the number of workdays in the month - Saturdays, Sundays and National Holidays excluded. No monthly average is computed if 

one or more weekly prices are missing. 

This monthly average report format was discontinued as of August 31, 2018. 

 
52

 DAIRY MARKET NEWS INTERNATIONAL MONTHLY SUMMARY AND AVERAGES FOR AUGUST 20181

 (UNLESS OTHERWISE NOTED, PRICES ARE U.S.DOLLARS/METRIC TON, F.O.B. PORT) 

 

 ::REPORT NUMBER 31 ::REPORT NUMBER 33 ::REPORT NUMBER 35 :: 2018 * : 2017 * 

 COMMODITY ::-----------------::-----------------::-----------------:: Monthly : Monthly 

 :: AUG 01 - 03 :: AUG 06 - 17 :: AUG 20 - 31 :: Average : Average 

--------------------------------------------------------------------------------------------------------------

 

BUTTER (82% BUTTERFAT) 

 -- OCEANIA :: 4950 - 5100 :: 4750 - 5000 :: 4325 - 4625 :: 4721 : 6101 

 -- WESTERN EUROPE :: 6125 - 6550 :: 6200 - 6925 :: 6375 - 6900 :: 6566 : 7800 

BUTTEROIL (99% BUTTERFAT) 

 -- WESTERN EUROPE :: 6600 - 8200 :: 6750 - 8200 :: 6875 - 7500 :: 7340 : 7883 

CHEDDAR CHEESE (39% MAXIMUM MOISTURE) 

 -- OCEANIA :: 3600 - 3800 :: 3575 - 4125 :: 3375 - 3800 :: 3716 : 4010 

SKIM MILK POWDER (1.25% BUTTERFAT) 

 -- OCEANIA :: 1950 - 2125 :: 1925 - 2125 :: 1900 - 2050 :: 2005 : 1972 

 -- SOUTH AMERICA :: 2250 - 2550 :: 2200 - 2500 :: 2100 - 2400 :: 2313 : 2796 

 -- WESTERN EUROPE :: 1650 - 1800 :: 1725 - 1875 :: 1850 - 2000 :: 1845 : 2107 

WHEY POWDER (NONHYGROSCOPIC) 

 -- WESTERN EUROPE :: 0900 - 1025 :: 0925 - 1025 :: 0950 - 1075 :: 990 : 1069 

WHOLE MILK POWDER (26% BUTTERFAT) 

 -- OCEANIA :: 2975 - 3025 :: 2950 - 3250 :: 2850 - 2975 :: 3005 : 3170 

 -- SOUTH AMERICA :: 2850 - 3250 :: 2900 - 3300 :: 2800 - 3200 :: 3050 : 3300 

 -- WESTERN EUROPE :: 3225 - 3300 :: 3175 - 3350 :: 3250 - 3550 :: 3322 : 3808 

--------------------------------------------------------------------------------------------------------------

1 Prices for all products are issued biweekly and represent a value for the entire biweekly period. Monthly 

averages are based on biweekly prices and are time-weighted according to the number of workdays in the month -

Saturdays and Sundays excluded. No monthly average is computed if one or more biweekly prices are missing. 

This monthly average report format was discontinued as of August 31, 2018. 
53

CME GROUP AVERAGES FOR AUGUST 2018

 ::REPORT NUMBER 31::REPORT NUMBER 32::REPORT NUMBER 33::REPORT NUMBER 34::REPORT NUMBER 35:: 2018 * : 2017 * 

 COMMODITY ::----------------::----------------::----------------::----------------::----------------:: Monthly : Monthly 

 :: AUG 1 - 3 :: AUG 6 - 10 :: AUG 13 - 17 :: AUG 20 - 24 :: AUG 27 - 31 :: Average : Average 

------------------------------------------------------------------------------------------------------------------------------------

 

 BUTTER* 

 

-- GRADE AA 

 --Monday :: :: 2.3050 :: 2.3675 :: 2.2500 :: 2.2950 :: : 

 --Tuesday :: :: 2.3150 :: 2.3875 :: 2.2375 :: 2.3000 :: : 

 --Wednesday :: 2.3200 :: 2.3200 :: 2.3500 :: 2.2500 :: 2.2725 :: : 

 --Thursday :: 2.3200 :: 2.3400 :: 2.3300 :: 2.2475 :: 2.2725 :: : 

 --Friday :: 2.3200 :: 2.3400 :: 2.3050 :: 2.2600 :: 2.2150 :: 2.3009 : 2.6473 

 

--Weekly Average** :: 2.3070 :: 2.3240 :: 2.3480 :: 2.2490 :: 2.2710 :: : 

 

 CHEESE* 

 

-- BARRELS 

 --Monday :: :: 1.4850 :: 1.6475 :: 1.6425 :: 1.6100 :: : 

 --Tuesday :: :: 1.4850 :: 1.6700 :: 1.5700 :: 1.6100 :: : 

 --Wednesday :: 1.4300 :: 1.5150 :: 1.6750 :: 1.5650 :: 1.6100 :: : 

 --Thursday :: 1.4575 :: 1.5675 :: 1.6750 :: 1.5750 :: 1.6200 :: : 

 --Friday :: 1.4750 :: 1.6200 :: 1.6700 :: 1.6000 :: 1.6450 :: 1.5835 : 1.5993 

 

--Weekly Average** :: 1.4350 :: 1.5345 :: 1.6675 :: 1.5905 :: 1.6190 :: : 

 

-- 40# BLOCKS 

 --Monday :: :: 1.5700 :: 1.6600 :: 1.6100 :: 1.6525 :: : 

 --Tuesday :: :: 1.5775 :: 1.6550 :: 1.6175 :: 1.6675 :: : 

 --Wednesday :: 1.5400 :: 1.6050 :: 1.6600 :: 1.6375 :: 1.6675 :: : 

 --Thursday :: 1.5725 :: 1.6450 :: 1.6550 :: 1.6500 :: 1.6775 :: : 

 --Friday :: 1.5875 :: 1.6575 :: 1.6550 :: 1.6700 :: 1.6950 :: 1.6341 : 1.6852 

 

--Weekly Average** :: 1.5440 :: 1.6110 :: 1.6570 :: 1.6370 :: 1.6720 :: : 

 

 NONFAT DRY MILK* 

 

-- GRADE A 

 --Monday :: :: 0.8300 :: 0.8300 :: 0.8675 :: 0.8700 :: : 

 --Tuesday :: :: 0.8375 :: 0.8200 :: 0.8825 :: 0.8775 :: : 

 --Wednesday :: 0.8400 :: 0.8200 :: 0.8200 :: 0.8750 :: 0.8750 :: : 

 --Thursday :: 0.8325 :: 0.8150 :: 0.8300 :: 0.8625 :: 0.8825 :: : 

 --Friday :: 0.8275 :: 0.8300 :: 0.8625 :: 0.8700 :: 0.8850 :: 0.8497 : 0.8491 

 

--Weekly Average** :: 0.8305 :: 0.8265 :: 0.8325 :: 0.8715 :: 0.8780 :: : 

 

 WHEY* 

 

-- EXTRA GRADE 

 --Monday :: :: 0.4350 :: 0.4425 :: 0.4475 :: 0.4800 :: : 

 --Tuesday :: :: 0.4375 :: 0.4450 :: 0.4475 :: 0.4850 :: : 

 --Wednesday :: 0.4325 :: 0.4400 :: 0.4450 :: 0.4500 :: 0.4900 :: : 

 --Thursday :: 0.4325 :: 0.4400 :: 0.4450 :: 0.4700 :: 0.4925 :: : 

 --Friday :: 0.4350 :: 0.4425 :: 0.4450 :: 0.4800 :: 0.5000 :: 0.4548 : 

 

--Weekly Average** :: 0.4300 :: 0.4390 :: 0.4445 :: 0.4590 :: 0.4895 :: : 

 

------------------------------------------------------------------------------------------------------------------------------------

* Monthly averages are a simple average of all the closes during the month. Weekly and monthly averages are independent 

calculations. 

** Weekly averages are simple averages of the closes during the calendar week and are for information purposes. Should the 

week be split between two months, the weekly average will appear in the monthly report in which the Friday close is reported. 

This monthly average report format was discontinued as of August 31, 2018. 
54

2018 MONTHLY AVERAGES

AREA and PRODUCT : JAN : FEB : MAR : APR : MAY : JUN : JUL : AUG : SEP : OCT : NOV : DEC : AVG

CME Group 1

BUTTER - DAILY TRADING

GRADE AA 2.1587 2.1211 2.2011 2.3145 2.3751 2.3270 2.2361 2.3009 2.2545 2.2600 2.2480 2.2071 2.2503

CHEESE - DAILY TRADING

BARRELS 1.3345 1.4096 1.5071 1.4721 1.5870 1.4145 1.3707 1.5835 1.4503 1.3152 1.3100 1.2829 1.4198

40 POUND BLOCKS 1.4938 1.5157 1.5614 1.6062 1.6397 1.5617 1.5364 1.6341 1.6438 1.5874 1.3951 1.3764 1.5460

NONFAT DRY MILK - DAILY TRADING

GRADE A 0.6926 0.7097 0.6808 0.7656 0.8441 0.7790 0.7783 0.8497 0.8845 0.8691 0.8856 0.9241 0.8053

WHEY - DAILY TRADING 

EXTRA GRADE 0.3038 0.3452 0.4030 0.4118 0.4548 0.5225 0.5329 0.4331 0.4595

DAIRY MARKET NEWS 2

 CHEESE

WISCONSIN

PROCESS AMERICAN 5 POUND LOAF 1.6315 1.6467 1.7761 1.7426 1.8426 1.7501 1.6117 1.8160 1.7839 1.6116 1.5698 1.5463 1.6941

BRICK AND/OR MUENSTER 5 POUNDS 2.0807 2.0804 2.1334 2.1605 2.2163 2.1663 2.1092 2.1735 2.2213 2.1932 2.0005 1.9439 2.1233

CHEDDAR 40 POUND BLOCK 1.7932 1.7929 1.8459 1.8730 1.9288 1.8788 1.8217 1.8860 1.9338 1.9057 1.7130 1.6564 1.8358

MONTEREY JACK 10 POUNDS 1.9457 1.9454 1.9984 2.0255 2.0813 2.0313 1.9742 2.0385 2.0863 2.0582 1.8655 1.8089 1.9883

BLUE 5 POUNDS 2.6295 2.6291 2.6822 2.7092 2.7650 2.7151 2.6579 2.7222 2.7701 2.7569 2.5905 2.5339 2.6801

MOZZARELLA 5-6 POUNDS 2.1382 2.1379 2.1909 2.2180 2.2738 2.2238 2.1667 2.2310 2.2788 2.2507 2.0580 2.0014 2.1808

SWISS 6-9 POUND CUTS 2.8716 2.8966 2.7533 2.6168 2.5235 2.5993 2.6260 2.7008 2.7113 2.6166 2.6747 2.7794 2.6975

NORTHEAST

CHEDDAR 40 POUND BLOCK 2.1032 2.1029 2.1559 2.1830 2.2388 2.1888 2.1317 2.1960 2.2438 2.2157 2.0230 1.9664 2.1458

PROCESS AMERICAN 5 POUND SLICED 1.7365 1.7517 1.8811 1.8476 1.9476 1.8551 1.7167 1.9210 1.8889 1.7166 1.6748 1.6513 1.7991

MUENSTER 2.1207 2.1204 2.1734 2.2005 2.2563 2.2063 2.1492 2.2135 2.2613 2.2332 2.0405 1.9839 2.1633

SWISS 10-14 POUND CUTS 3.4566 3.4816 3.3383 3.2018 3.1085 3.1843 3.2110 3.2858 3.2988 3.2041 3.2622 3.3669 3.2833

WEST

PROCESS AMERICAN 5 POUND LOAF 1.5678 1.5830 1.7124 1.6789 1.7789 1.6864 1.5479 1.7522 1.7202 1.5478 1.5060 1.4813 1.6302

CHEDDAR 40 POUND BLOCK 1.8507 1.8504 1.9034 1.9305 1.9863 1.9363 1.8792 1.9435 1.9903 1.9619 1.7692 1.7126 1.8929

CHEDDAR 10 POUND CUTS 1.9182 1.9179 1.9709 1.9980 2.0538 2.0038 1.9467 2.0110 2.0588 2.0307 1.8380 1.7814 1.9608

MONTEREY JACK 10 POUNDS 1.8982 1.8979 1.9509 1.9780 2.0338 1.9838 1.9267 1.9910 2.0388 2.0107 1.8180 1.7614 1.9408

SWISS 6-9 POUND CUTS 3.0879 3.1129 2.9695 2.8331 2.7425 2.8356 2.8623 2.9371 2.9500 2.8553 2.9135 3.0181 2.9265

 FLUID PRODUCTS

CLASS II CREAM

NORTHEAST - F.O.B. 2.3447 2.3466 2.6881 2.7419 2.9168 2.9997 3.0672 3.1195 2.9628 3.1169 3.2488 2.6980 2.8543

UPPER MIDWEST - F.O.B. 2.4817 2.4800 2.6884 2.7901 2.9193 2.9956 2.9441 3.0733 2.9027 3.0180 3.1088 2.7251 2.8439

CONDENSED SKIM - NORTHEAST - F.O.B.

CLASS II 0.7343 0.7132 0.6500 0.6514 0.6373 0.6536 0.6983 0.7900 0.8945 0.9284 0.8664 0.8425 0.7550

CLASS III 0.7686 0.7505 0.7000 0.7038 0.6764 0.6700 0.6931 0.7359 0.7850 0.9152 0.8398 0.7828 0.7518

1 Monthly averages are a simple average of all the closes during the month.

2 Monthly averages are based on weekly prices and are time-weighted according to the number of workdays in the month - Saturdays, Sundays and National Holidays excluded.
55

2018 MONTHLY AVERAGES

AREA and PRODUCT : JAN : FEB : MAR : APR : MAY : JUN : JUL : AUG : SEP : OCT : NOV : DEC : AVG

DAIRY MARKET NEWS, CONTINUED 2

 DRY PRODUCTS

NONFAT DRY MILK

CENTRAL/EAST - LOW/MEDIUM HEAT 0.6986 0.7217 0.7183 0.7345 0.8101 0.8191 0.7996 0.8327 0.8943 0.8870 0.8845 0.9125 0.8094

 --MOSTLY 0.7026 0.7250 0.7186 0.7321 0.8147 0.8249 0.7978 0.8314 0.8934 0.9000 0.9012 0.9196 0.8134

CENTRAL/EAST - HIGH HEAT 0.8988 0.9013 0.9019 0.9043 0.9625 1.0074 0.9656 1.0109 1.0243 1.0225 1.0140 1.0278 0.9701

WEST - LOW/MEDIUM HEAT 0.6879 0.7158 0.6928 0.7397 0.8302 0.8052 0.7752 0.8428 0.8822 0.8818 0.8844 0.9196 0.8048

 --MOSTLY 0.6955 0.7221 0.6984 0.7370 0.8242 0.8140 0.7761 0.8442 0.8750 0.8800 0.8995 0.9169 0.8069

WEST - HIGH HEAT 0.8855 0.9118 0.8945 0.9233 0.9860 0.9974 0.9660 1.0296 1.0451 1.0400 1.0456 1.0472 0.9810

WHEY POWDER

CENTRAL - 0.2375 0.2375 0.2577 0.2673 0.2951 0.3231 0.3343 0.3584 0.4334 0.4584 0.4343 0.4413 0.3399

 --MOSTLY 0.2465 0.2382 0.2384 0.2435 0.2739 0.3198 0.3458 0.3920 0.4293 0.4473 0.4550 0.4550 0.3404

WEST - 0.2558 0.2545 0.2684 0.2746 0.3033 0.3467 0.3675 0.4021 0.4528 0.4864 0.4542 0.4478 0.3595

 --MOSTLY 0.2587 0.2416 0.2543 0.2678 0.3009 0.3243 0.3552 0.4013 0.4396 0.4661 0.4530 0.4456 0.3507

NORTHEAST - EXTRA AND GRADE A 0.2856 0.2772 0.2701 0.2711 0.2969 0.3317 0.3687 0.3915 0.4312 0.4809 0.4817 0.4804 0.3639

WHEY PROTEIN CONCENTRATE 34%

CENTRAL AND WEST 0.7702 0.7650 0.7752 0.7686 0.8018 0.8380 0.8373 0.8423 0.8710 0.9026 0.9304 0.9294 0.8360

 -- MOSTLY 0.7268 0.7211 0.6960 0.7027 0.7502 0.7949 0.8092 0.8144 0.8437 0.8658 0.8817 0.8851 0.7910

ANIMAL FEED

CENTRAL - MILK REPLACER 0.1980 0.1888 0.1836 0.1907 0.1915 0.2326 0.2346 0.2767 0.3042 0.3384 0.3263 0.3275 0.2494

DRY BUTTERMILK

CENTRAL/EAST 0.7592 0.7287 0.7134 0.7276 0.7507 0.7662 0.7815 0.8103 0.8813 0.9053 0.9242 0.9472 0.8080

WEST 0.7174 0.7324 0.7250 0.7300 0.7432 0.7600 0.7629 0.8134 0.8374 0.8659 0.8880 0.8988 0.7895

 --MOSTLY 0.7074 0.7150 0.7036 0.7136 0.7445 0.7550 0.7483 0.8111 0.8350 0.8589 0.8919 0.9000 0.7820

DRY WHOLE MILK

NATIONAL 1.4095 1.4461 1.4670 1.4905 1.5489 1.6024 1.6019 1.5624 1.5000 1.5432 1.5545 1.5500 1.5230

LACTOSE

CENTRAL AND WEST 0.2564 0.2566 0.2675 0.2840 0.2859 0.2850 0.3057 0.3188 0.3325 0.3705 0.3750 0.3700 0.3090

-- MOSTLY 0.2146 0.2159 0.2200 0.2333 0.2573 0.2796 0.3099 0.3254 0.3363 0.3475 0.3510 0.3580 0.2874

CASEIN

RENNET 2.0838 2.2386 2.3172 2.6276 2.4064 2.3751 2.2714 2.3424 2.4732 2.5111 2.5527 2.5125 2.3927

ACID 3.1143 3.1639 3.1700 3.1002 3.0502 3.0390 3.0536 3.0472 3.0782 3.1450 3.1171 3.0826 3.0968

2 Monthly averages are based on weekly prices and are time-weighted according to the number of workdays in the month - Saturdays, Sundays and National Holidays excluded.
56

2018 INTERNATIONAL MONTHLY AVERAGES

AREA and PRODUCT : JAN : FEB : MAR : APR : MAY : JUN : JUL : AUG : SEP : OCT : NOV : DEC : AVG

DAIRY MARKET NEWS 3

BUTTER (82% BUTTERFAT)

 -- OCEANIA 4768 5279 5307 5593 5746 5626 5093 4721 4356 4184 4030 3907 4884

 -- WEST EUROPE 5035 5633 5991 6564 7055 7085 6534 6566 6406 5494 5049 4976 6032

BUTTEROIL (99% BUTTERFAT)

 -- WEST EUROPE 7077 6771 6826 6879 7255 7526 7570 7340 6913 6934 6921 6894 7076

CHEDDAR CHEESE (39% MAXIMUM

MOISTURE)

 -- OCEANIA 3435 3724 3714 3796 4090 3924 3680 3716 3619 3498 3346 3289 3653

SKIM MILK POWDER (1.25% BUTTERFAT)

 -- OCEANIA 1804 1983 1897 1936 2081 2076 2035 2005 2081 2017 2028 2071 2001

 -- SOUTH AMERICA 2545 2533 2361 2369 2513 2390 2366 2313 2225 2385 2461 2507 2414

 -- WEST EUROPE 1682 1678 1610 1660 1770 1868 1790 1845 1931 1823 1830 1958 1787

WHEY POWDER (NONHYGROSCOPIC)

 -- WEST EUROPE 827 875 911 936 910 936 971 990 1013 984 957 953 939

WHOLE MILK POWDER (26% BUTTERFAT)

 -- OCEANIA 2959 3210 3233 3310 3268 3179 3003 3005 2819 2720 2648 2665 3002

 -- SOUTH AMERICA 3147 3205 3228 3232 3171 3182 3101 3050 2950 2868 2836 2811 3065

 -- WEST EUROPE 3082 3189 3217 3283 3329 3366 3297 3322 3406 3190 3105 3088 3240

3 Monthly averages are based on weekly prices and are time-weighted according to the number of workdays in the month – Saturdays and Sundays excluded.
Week

NE SE MW SC SW NW HA AL U.S.

1 3.53 4.08 3.20 3.47 3.42 3.34 6.34 3.29 3.79

2 4.27 3.79 3.26 3.99 3.99 2.99 6.99 3.29 3.88

3 3.57 4.14 2.99 4.68 3.39 6.43 4.11

4 3.92 3.28 2.99 2.99 3.65 6.99 3.58

5 3.99 3.80 3.73 3.99 3.99 3.79 7.10 3.96

6 4.36 3.19 3.21 3.99 2.99 4.49 3.63

7 4.55 3.99 3.54 3.79 4.82 3.50 4.19

8 4.48 3.99 3.99 3.99 3.99 3.99 4.15

9 4.58 4.49 3.17 3.79 3.99 3.99 4.49 4.06

10 3.87 3.25 3.23 3.48 3.79 2.87 3.48

11 3.99 3.84 3.50 2.99 3.99 3.99 6.69 3.76

12 4.91 3.99 6.69 4.71

13 4.99 3.99 3.29 3.96 4.69 4.49 4.14

14 4.35 3.14 3.36 3.37 3.64 3.99 4.08 3.54

15 4.12 3.29 3.14 3.97 3.91 2.85 3.60

16 4.30 3.46 4.11 3.78 3.82 3.84

17 3.65 3.99 3.99 3.49 6.99 3.91

18 3.71 3.99 3.96 3.78 3.78 3.99 3.85

19 3.99 3.99 3.99 3.63 3.99 2.50 6.58 3.94

20 4.25 3.99 3.79 3.47 3.48 6.58 4.00

21 4.50 3.52 3.99 4.29 4.31 3.99 4.01

22 4.86 4.24 3.41 3.43 3.76 3.41 3.92

23 3.69 3.94 3.23 3.41 4.11 3.15 6.99 2.99 3.61

24 3.84 4.29 3.99 4.06 4.19 3.67 4.99 4.02

25 3.49 3.30 3.00 3.00 4.99 3.39

26 5.45 4.29 3.94 3.64 3.88 6.40 4.19

27 3.82 4.02 4.55 4.14

28 4.20 3.40 3.41 4.50 3.99 2.50 7.19 3.70

29 3.84 4.18 3.23 3.50 3.99 2.50 7.19 3.83

30 4.74 4.99 3.79 4.49 5.49 4.64

31 4.30 4.04 3.66 3.50 3.81 2.99 3.90

32 4.23 3.24 4.24 4.99 2.50 3.89

33 4.73 4.28 3.71 2.99 4.99 4.48

34 4.32 3.59 3.44 3.40 4.08 3.99 3.77

35 4.36 3.81 4.25 4.99 4.25 4.22

36 5.34 4.10 4.49 3.99 4.23

37 4.27 4.12 4.00 3.99 3.04 5.49 3.29 4.05

38 4.35 3.60 3.43 3.08 3.23 2.99 3.61

39 4.43 4.05 4.25 4.06 3.36 3.40 6.99 4.00

40 3.99 3.58 3.80 3.50 3.78 3.58 3.67

41 4.20 3.82 3.10 3.99 3.99 3.04 3.88

42 4.58 3.88 3.00 3.74 5.99 4.11

43 4.20 3.55 2.99 3.23 4.69 6.99 3.29 3.85

44 4.46 3.64 3.41 4.53 3.83

45 4.92 4.79 3.49 3.99 4.19 4.45

46 5.16 4.49 2.99 3.49 3.49 2.79 5.99 3.29 3.63

47 2.99 2.99

48 4.81 4.42 4.24 4.26 3.99 4.38

49 3.54 3.78 2.99 4.07 3.71

50 4.48 3.94 3.47 3.50 3.70 2.50 6.99 3.76

51 4.78 4.49 2.99 6.99 4.57

52 3.53 4.03 3.99 3.89 3.88

4.30 3.88 3.53 3.67 4.08 3.37 6.57 3.61 3.93

57

 U.S. Organic Half Gallon Milk

Weekly Weighted Average Advertised Prices

National and Regional - 2018

By Regions and Prices in U.S. dollars

12 Month Averages
Week Conventional Organic Price Spread

1 2.83 3.79 0.96

2 2.25 3.88 1.63

3 1.92 4.11 2.19

4 1.72 3.58 1.86

5 1.27 3.96 2.69

6 2.00 3.63 1.63

7 2.56 4.19 1.63

8 2.44 4.15 1.71

9 1.79 4.06 2.27

10 2.52 3.48 0.96

11 2.56 3.76 1.20

12 2.28 4.71 2.43

13 2.52 4.14 1.62

14 2.39 3.54 1.15

15 2.28 3.60 1.32

16 1.55 3.84 2.29

17 1.83 3.91 2.08

18 1.97 3.85 1.88

19 2.43 3.94 1.51

20 2.04 4.00 1.96

21 2.19 4.01 1.82

22 1.47 3.92 2.45

23 2.10 3.61 1.51

24 2.01 4.02 2.01

25 1.71 3.39 1.68

26 2.86 4.19 1.33

27 1.93 4.14 2.21

28 2.60 3.70 1.10

29 1.97 3.83 1.86

30 2.07 4.64 2.57

31 2.18 3.90 1.72

32 2.45 3.89 1.44

33 2.02 4.48 2.46

34 2.67 3.77 1.10

35 2.49 4.22 1.73

36 2.16 4.23 2.07

37 2.10 4.05 1.95

38 1.86 3.61 1.75

39 1.63 4.00 2.37

40 2.13 3.67 1.54

41 2.24 3.88 1.64

42 2.37 4.11 1.74

43 2.37 3.85 1.48

44 1.82 3.83 2.01

45 2.37 4.45 2.08

46 2.67 3.63 0.96

47

48 2.18 4.38 2.20

49 2.33 3.71 1.38

50 2.82 3.76 0.94

51 2.60 4.57 1.97

52 1.18 3.88 2.70

2.17 3.95 1.78

58

 U.S. Conventional and Organic Half Gallon Milk

Weekly Averages and Price Spread in U.S. dollars

National - 2018

12 Month Averages