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Federal Order Class I Price Up 93 Cents

(December 21, 2007) The Federal order Class I milk price starts 2008 on a positive note. The Agriculture Department announced the base price this morning at $20.97 per hundredweight, up 93 cents from December, and $7.38 above January 2007. The Class III advanced pricing factor became “the higher of” in driving the Class I value.

The NASS-surveyed butter price averaged $1.3146 per pound, up 1.77 cents from December. Nonfat dry milk averaged $1.8304, down 8.27 cents, cheese averaged $2.1328, up 16.8 cents, and dry whey averaged 45.68 cents, up 1.83 cents from December.