Here’s an update on economic factors impacting your dairy’s financial picture as we begin March 2024.

The USDA National Agricultural Statistics Service (NASS) released its Agricultural Prices report Feb. 29, which includes feed costs used to calculate January Dairy Margin Coverage (DMC) program margins and indemnity payments.

February 2023 Federal Milk Marketing Order pooling estimates, uniform prices and producer price differentials are scheduled to be released on March 11-14.

Here’s an update on economic factors impacting your dairy’s financial picture as we finish out February 2024.

Here's Progressive Dairy’s look ahead at important dates, reports and advice affecting risk management decisions, as well as other information impacting your milk check in March.

Service enrollment for the 2024 Dairy Margin Coverage program will begin Wednesday, Feb. 28. Dairy producers will have until April 29 to complete their enrollment in the voluntary dairy safety net program.

2023 annual milk production was down 98 million pounds compared to the 2022 total. However, annual total milk production has increased 9.9% from 2014.

Federal Milk Marketing Order (FMMO) uniform milk prices slipped lower in January, a combination of lower Class I and Class III milk class prices and continued depooling of Class IV milk.

Here’s a summary of news impacting your dairy as we approach the middle of February 2024.

This week, parents weighed in on their support for bipartisan legislation to provide whole and 2% milk in public schools, the dairy checkoff announced a pilot project for hot chocolate milk in schools, and a California congressman called for supply chain changes to ensure the availability of school milk.