What is the milk price forecast for 2023?

With lower milk supplies and expected growth in domestic use, the all-milk price forecast for 2023 has been raised by $0.45 to $20.40 per hundredweight (cwt), while the forecast for 2024 is $20.30 per cwt, $0.95 higher than last month's prediction. Download chart data in Excel format.

What is a mini-chart view?

Mini-Chart View: Available for Barchart Plus and Premier Members, this view displays 12 small charts per page for the symbols shown in the data table. You may change the bar type and time frame for the Mini-Charts as you scroll through the page. The default settings for Mini-Charts are found in your Site Preferences, under "Overview Charts".

Should average prices be used to measure price change?

Average prices are best used to measure the price level in a particular month, not to measure price change over time. It is more appropriate to use CPI index values for the particular item categories to measure price change. Prices, except for electricity, are collected monthly by BLS representatives in the 75 urban areas priced for the CPI.

How are average consumer prices calculated?

Includes organic and non-organic milk. Average consumer prices are calculated for household fuel, motor fuel, and food items from prices collected for the Consumer Price Index (CPI). Average prices are best used to measure the price level in a particular month, not to measure price change over time.