Here’s an update on news and economic factors impacting your dairy entering the first full week of February 2024.

On Jan. 30, the Federal Milk Marketing Order (FMMO) public hearing came to a close. The national hearing, which took place in Carmel, Indiana, began back on Aug. 23, 2023, and included 12 weeks of testimony and cross-examination. Dairy groups are calling for swift action to change the Class 1 mover formula.

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.

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

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.