Here’s an update on economic factors impacting your dairy finances as the calendar turns to December 2023.

The USDA National Agricultural Statistics Service (NASS) released its latest Ag Prices report on Nov. 30, including factors used to calculate October 2023 Dairy Margin Coverage (DMC) margins and indemnity payments.

The Dairy Margin Coverage (DMC) program has been extended into 2024. Watch for enrollment details.

Here’s an update on economic factors impacting your dairy finances entering the final week of November 2023.

Ten states including California, New Mexico, Texas, Idaho and Colorado reduced milk production by a combined 224 million pounds.

Here’s Progressive Dairy’s monthly review of October FMMO data to provide some additional transparency to your milk check.

Trends that have been keeping overall U.S. dairy exports in check for most of the year remain largely unchanged.

The October DMC margin is forecast at about $9.54 per cwt, above the maximum Tier I DMC coverage level of $9.50 per cwt.

Progressive Dairy reviews the USDA’s latest World Ag Supply and Demand Estimates (WASDE) and Crop Production reports to identify potential influences on dairy producer income.

Roughly 40% of all U.S. dairy farms have non-family member employees, and about 70% of those workers are immigrant employees.