The USDA National Agricultural Statistics Service (NASS) released its latest Ag Prices report on Oct. 31, including factors used to calculate September 2023 Dairy Margin Coverage (DMC) margins and indemnity payments.

Here is a brief look at the news affecting dairy producers as October 2023 comes to a close.

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

With congressional failure to approve a 2023 Farm Bill, new milk supply contracts under the Dairy Forward Pricing Program are no longer authorized.

Progressive Dairy summarizes factors potentially impacting dairy producer income based on the USDA’s latest World Ag Supply and Demand Estimates (WASDE) and Crop Production reports.

Without approval in the 2023 Farm Bill, the Dairy Margin Coverage program expires at the end of the year.

Milk checks for September production will again reflect stronger protein and Class III milk prices. That will change on October production, with struggling cheese prices weakening the Class III price and widening the Class III-IV price spread, adding substantial Class IV depooling incentives.

Here is a brief look at the news affecting dairy producers during the first week of October 2023.

Compared to a month earlier, U.S. average feed costs were lower and milk prices were up, pushing the milk income margin up almost $3 per hundredweight from July’s historic low.