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October Class I Price $19.47, Up $0.57

USDA announced the October Class I base price to be $19.47, an increase of $0.57/cwt. from September. The current ‘average of’ formula resulted in the price being $0.57/cwt. higher than the previous ‘higher of’ formula.


The overall price index at this week’s Global Dairy Trade event surged 4.6%, its second consecutive increase. China resumed buying given the combination of relative low GDT prices and dwindling dairy product stocks in China. Skim milk powder jumped 5.4% to $1.0886/lb., and whole milk powder followed suit increasing 4.6% to $1.2696. Butter gained 3.8% to $2.1423. Only cheese slumped, down 1.7% to $1.8343.