Here’s an update on economic factors impacting your dairy’s financial picture as we turn the calendar to February 2024.

The USDA National Agricultural Statistics Service (NASS) released its latest Ag Prices report on Jan. 31, including factors used to calculate the December 2023 Dairy Margin Coverage (DMC) margin.

Progressive Dairy provides monthly online updates of important dates, reports and factors affecting risk management decisions.

The comment period deadline is Feb. 15 on the development of a potential U.S. Environmental Protection Agency (EPA) rule covering animal waste air emission reporting requirements.

A smaller milking herd and improving milk income margins are contributing to lower U.S. dairy cull cow marketing this winter. Through Dec. 30, the number of dairy cows marketed for beef had trailed year-ago levels for 17 consecutive weeks and was down 82,400 from the same period a year earlier.

Monthly U.S. milk production was lower than the year earlier in December 2023, extending the decline to six consecutive months.

In September, the Physicians Committee for Responsible Medicine (PCRM) posted a billboard in California urging people to “Ditch Dairy to Fight the Climate Crisis.” The message, which was prominently placed along Highway 99 in Tulare County, drew an immediate response from many in the area’s dairy industry. 

Dairy Margin Coverage (DMC) program software updates necessary for 2024 enrollment will be available in February or March.

Here’s an update on economic factors impacting your dairy profitability during the fourth week of January 2024.

Already the longest hearing in USDA history, the Federal Milk Marketing Order (FMMO) Pricing Formula Hearing still has one week to go. The hearing is in recess during the week of Jan. 22 and will resume at 8 a.m. EST on Monday, Jan. 29 at the 502 Event Center in Carmel, Indiana.