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November 2023 DMC margin moves above indemnity trigger
Small changes in the U.S. average feed cost and milk price were enough to push November’s Dairy Margin Coverage (DMC) margin higher.
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Dairy News
InFocus: Cheese consumption hits all-time high in 2022
USDA data shows American dairy per-capita consumption across products consistently increasing each year, with 2022 up 0.4% over the past five years, 7.5% over the past 15 years and 16.1% over the past 30 years.
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Dairy risk management calendar: January 2024
The 2024 Dairy Margin Coverage (DMC) program enrollment period should be announced soon.
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Economic Update: January 2024 Class I base price weakens
‘Average-of’ formula continues to impact price
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Cow numbers, milk production continue to decline in November USDA estimates
Ten states including California, New Mexico, Texas, Pennsylvania and Colorado reduced milk production a combined 188 million pounds.
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Weekly Digest: Whole milk in school
Approved in the House, a bill expanding school milk options faces delays in the Senate.
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November prices aided by higher components as Class IV pooling stays low
Lower FMMO uniform prices were offset by higher seasonal butterfat and protein tests in many areas.
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Look for 2024 DMC program enrollment details early next year
As we saw in recent years, using beginning of the year milk and feed price forecasts to determine DMC participation can be risky.
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Reduced milk per cow, cow numbers lower USDA 2023-24 milk production estimates
The milk production forecast for 2023 was lowered from last month due to slower expected growth in milk per cow.
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