A declining U.S. average milk price and higher average costs for corn and soybean meal drove milk income margins to their lowest level since August 2021.
The USDA National Agricultural Statistics Service (NASS) released its latest Ag Prices report on March 31, including factors used to calculate February 2023 Dairy Margin Coverage (DMC) margins and indemnity payments. A declining U.S. average milk price and higher average costs for corn and soybean meal drove milk income margins to their lowest level since August 2021.
Dave Natzke April 4, 2023
progressivedairy.com
