NEXT UPDATE: Mid-September

-- Updated August 15th: In May 2008, mailbox milk prices for the federal order markets reporting mailbox prices averaged $18.09 per hundredweight, down $0.10 from April 2008 and $0.31 more than May 2007. Prices ranged from Florida's $21.80 to New Mexico's $16.04. The California mailbox price is calculated by the California Department of Food and Agriculture, the Dairy Marketing Branch.

Mailbox prices reflect the actual price dairy operators receive for their milk, hence the name mailbox price. Typically, they are released about 3-1/2 months following the month for which the prices apply. Mailbox prices are reported at average fat tests and reflect all premiums, as well as marketing costs, including hauling.