Farm lending activity at commercial banks slowed through the first half of 2023 as interest rates continued to push higher.

Like the previous month, milk checks for July production will reflect weak protein and Class III milk prices. The wide price spread between Class III-IV milk prices means Class IV depooling will remain heavy.

Milk producers in just 13 counties marketed 25% of the total Federal Milk Marketing Order (FMMO) milk marketings in December 2022.

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.

Those looking for bright spots in this year’s dairy outlook have found their search increasingly challenging.

Here’s an update on risk management tools available through the USDA and/or USDA’s Risk Management Agency (RMA), as well as other information impacting your milk check.

The preliminary estimate of overall June milk production compared to a year earlier was unchanged to slightly lower in the U.S., and up just 0.2% in the major dairy states, the fourth straight month output was up less than 1% from a year ago.

The national hearing on Federal Milk Marketing Order modernization proposals will convene on Aug. 23, in Carmel, Indiana.