Missouri Dairy Business Update  
Volume 5, Number 11
November 2005

Milk Prices
2005 Milk Futures on the Chicago Mercantile Exchange
11/21/05
Nov
Dec
Jan-06
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Class III
$13.37
$12.94
$12.68
$12.51
$12.51
$12.47
$12.50
$12.62
$13.20
$13.43
$13.68
$13.21
Class IV
$12.90
$12.80
-
-
-
-
-
-
-
-
-
-
Butter Futures
$1.470
$1.425
$1.47
$1.48
$1.4725
$1.48
$1.48
$1.47
$1.4725
$1.530
$1.525
$1.500
MILC pmt.
$0
-
-
-
-
-
-
-
-
-
-
-
Source: Actual MILC Payment from http://www.fmmone.com/Northeast_Order_Prices/MILC%20calculator/DMLP.htm

Current USDA Milk Price Forecasts
11/17/05
2nd Q 2005
3rd Q 2005
4th Q 2005
1st Q 2006
Class III Price
$14.10
$14.08
$13.50 to $13.80
$12.45 to $13.05
Class IV Price
$12.38
$13.45
$12.95 to $13.35
$12.15 to $12.85
Source: USDA, ERS, Livestock, Dairy & Poultry Outlook

Historical Missouri milk prices may be found at: http://agebb.missouri.edu/dairy/mkt/index.htm

Hedging Opportunity Chart for next 12 Months http://www.uwex.edu/ces/milkmarketing/


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