Despite weakening milk prices this summer, U.S. average prices for replacement cows moved higher, while strong beef prices continued to push market cow prices to an eight-year high.

DMC indemnity payments will surpass income margins for many dairy producers.

The long-anticipated national public hearing to consider proposed amendments to Federal Milk Marketing Orders (FMMO) will begin on Aug. 23, in Carmel, Indiana.

Here’s Progressive Dairy’s monthly review of the numbers to provide some additional transparency to your milk check.

Compared to last month, the USDA left the 2023 milk production estimate unchanged but reduced 2024 production expectations slightly. The outlook for prices continues to weaken.

June 2023 FMMO pooling estimates, uniform prices and producer price differentials are scheduled to be released the week of July 10.

The May 2023 margin continues to be what looks like a lengthy stretch of extremely small margins and high indemnity payments into July-August.

The Federal Milk Marketing Order (FMMO) advanced Class I base price continues its descent in July, falling to the lowest level since October 2021.

Cow numbers are up but may be turning the corner downward.