USDA projections provide mixed news for dairy’s bottom line
Large crops and lower feed costs could help partially offset a dip in milk prices as dairy producers look to close out 2024 and plan ahead for 2025.
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Articles Tagged with ''milk pricing''
September FMMO milk class prices shine
September 2024 Federal Milk Marketing Order (FMMO) pooling estimates, uniform prices and producer price differentials are scheduled to be released on Oct. 11-14.
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August delivers with $13.72 DMC margin
Milk prices rally while feed costs fall in August to support a Dairy Margin Coverage program margin of $13.72 per cwt, the highest margin recorded since the program’s inception in the 2018 Farm Bill.
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August 2024 FMMO uniform prices move higher as Class III-IV markets move
Blend prices are near a two-year high and could move higher in the fourth quarter of 2024.
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September WASDE report projects third-highest production for corn on record
Based on conditions as of Sept. 1, corn yields are forecast at a record-high 183.6 bushels per acre, which is 0.5 bushels higher than last month’s projection and up 6.3 bushels from last year’s final estimate of 177.3 bushels.
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July DMC margin highest since May 2022
A continued downturn in feed costs contributed to a favorable income over feed cost for dairy producers last month. July’s Dairy Margin Coverage margin was $12.33 per cwt, the highest the program’s seen since May 2022.
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July 2024 FMMO uniform prices mostly higher but Class IV pooling falls to 11-year low
The increase in actual blend prices likely limited by summer dips in fat and protein tests.
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August WASDE report projects a record-high soybean crop
Based on conditions as of Aug. 1, soybean yields are expected to average a record high of 53.2 bushels per acre, up 1.2 bushels from last month and up 2.6 bushels from 2023.
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Replacement cow prices reach all-time high
Quarterly average prices in July reached an all-time high of $2,360 per head according to estimates from USDA.
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June DMC margin is $11.66 per cwt, premiums due soon
A staggering drop in feed costs and a rising milk price in June supported a margin not seen since 2022 for the Dairy Margin Coverage program. With few indemnity payments issued, producers are reminded that premiums for 2024 coverage must be paid by September.
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