With feed prices dropping, no indemnity payment will be issued for March milk production, as the USDA Agricultural Prices report calculated Dairy Margin Coverage (DMC) income over feed costs to be $9.65. The takeaway from the report included:
The all-milk price increased by a dime from last month to $20.70/cwt.
Feed costs fell by $0.11/cwt to $11.05. Corn remained unchanged.
Corn price remained unchanged from February at $4.36/bu.
Premium alfalfa dropped $7 per ton to $271.
Soybean meal dropped $1.46 per ton to $362.17.
“The all-milk price is only $0.40/cwt. lower than last March, but feed costs are down nearly $4.00/cwt.,” Erick Metzger, general manager with National All-Jersey, stated. “Hay is down $43 per ton; corn is lowered by $2.31 per bushel and soybean meal is $122.23 per ton less.”
By KAREN BOHNERT
May 1, 2024
