Announcement of Class and Component Prices for May 2012
Release date: May 31, 2012

Class II Price:                             15.19   (per hundredweight)

Class II Butterfat Price:                  1.4532   (per pound)
Advanced Class II
Skim Milk Price 1/:                         10.47   (per hundredweight)
Class III Price:                            15.23   (per hundredweight)

Class III Skim Milk Price:                  10.54   (per hundredweight)
Class IV Price:                             13.55   (per hundredweight)

Class IV Skim Milk Price:                    8.80   (per hundredweight)
Butterfat Price:                           1.4462   (per pound)

Nonfat Solids Price:                       0.9774   (per pound)
Protein Price:                             2.7344   (per pound)
Other Solids Price:                        0.3500   (per pound)

Somatic Cell Adjustment Rate:             0.00076   (per 1,000 somatic cell count)
Product Price Averages:
     Butter                                1.3657   (per pound)
     Nonfat Dry Milk                       1.1551   (per pound)
     Cheese                                1.5215   (per pound)
     Dry Whey                              0.5389   (per pound)


1/ May 2012 Advanced Price Announcement