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These purchase prices are set high enough to enable dairy processors to pay farmers at least the support price for the milk they use in manufacturing these products. The 2002 farm bill (P.L. 107-171, Sec. 1501) mandated a support price of $9.90/ cwt , effective through December 31, 2007, when the program by law was scheduled to expire.
Milk used for fluid (Class I) consumption generally receives the highest price and lower minimum prices are paid for the three classes of milk used for manufactured dairy products: Class II (yogurt, cottage cheese, ice cream, and other soft manufactured products), Class III (cheese), and Class IV (butter and nonfat dry milk).
In United States agricultural policy, utilization rates refer to the percentage of milk in federal milk marketing orders that is used in each of the classes: Class IV (butter and nonfat dry milk), Class III (), Class II (all other manufactured products), Class I (milk used for fluid consumption).
This classified pricing system requires handlers to pay a higher price for milk used for fluid consumption (Class I) than for milk used in manufactured dairy products such as yogurt, ice cream, cheese, butter and nonfat dry milk (Class II, Class III and Class IV products). The Federal Milk Marketing Order (FMMO) does not include certain states ...
The Minnesota-Wisconsin price (M-W price), prior to May 1995, was a component of the basic formula price for farm milk formerly used in federal milk marketing orders.It represented a survey of the average price Minnesota and Wisconsin plants were paying farmers for Grade B milk to be used in processed dairy products.
The compact created a Northeast Dairy Compact Commission, based in Montpelier, Vermont, charged with setting prices and regulating bulk milk handlers.From 1997 until its expiration on September 30, 2001, the Northeast compact required processors in the region to pay dairy farmers at least $16.94/cwt. for farm milk used for fluid consumption.
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According to AC Nielson Fresh Milk Price Report, which compared the global retail fluid milk price per litre for 12 months ending October 2017, the price of 1 litre of liquid milk in Canadian dollars in Canada was $1.50. In Australia it was $1.57, in the USA a litre of rBST-free milk was $1.61, in France, $1.77, and in New Zealand, $1.83.