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NEXT UPDATE on or before June 5
-- Announced on May 2, the April Class IV (butter/powder) price was $14.56, up $0.39 from last month. This year's price is down $1.56 from April 2007's Class IV of $16.12. The year-end average for 2007 was $18.36. The Class IV not only prices butter and powder but also affects the Class I mover. The Class I mover (based on "higher of" advanced Class III or Class IV skim milk price) plus the Class I differential for each order determines Class I skim milk price. The mover is equivalent to the Basic Formula Price (BFP) under the old pricing system. It equals (base skim milk price for Class I times 0.965) plus (advanced butterfat pricing factor times 3.5). The Class I mover is announced on or before the 23rd of the previous month.
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