Class I Price = (Class I skim milk price x 0.965) + (Class I butterfat price x 3.5).
Class I Skim Milk Price = Higher of advanced Class III or IV skim milk pricing factors + applicable Class I differential.
Class I Butterfat Price = Advanced butterfat pricing factor+ (applicable Class I differential divided by 100).
Note: Advanced pricing factors are computed using applicable price formulas listed below, except that product price averages are for two weeks.
Class II Price = (Class II skim milk price x 0.965) + (Class II butterfat price x 3.5).
Class II Skim Milk Price = Advanced Class IV skim milk pricing factor + $0.70.
Class II Butterfat Price = Butterfat price + $0.007.
Class II Nonfat Solids Price = Class II skim milk price divided by 9.
Class III Price = (Class III skim milk price x 0.965) + (Butterfat price x 3.5).
Class III Skim Milk Price = (Protein price x 3.1) + (Other solids price x 5.9).
Protein Price = ((Cheese price – 0.2003) x 1.383) + ((((Cheese price – 0.2003) x 1.572) – Butterfat price x 0.9) x 1.17).
Other Solids Price = (Dry whey price – 0.1991) times 1.03.
Butterfat Price = (Butter price – 0.1715) times 1.211.
Class IV Price = (Class IV skim milk price x 0.965) + (Butterfat price x 3.5).
Class IV Skim Milk Price = Nonfat solids price times 9.
Nonfat Solids Price = (Nonfat dry milk price - 0.1678) times 0.99.
Butterfat Price = See Class III.
Somatic Cell Adjustment Rate = Cheese price x 0.0005, rounded to fifth decimal place. Rate is per 1,000 somatic cell count difference from 350,000