Dairy Week In Review

The USDA announced September’s Dairy Margin Coverage margin at $15.57
per cwt, the highest margin since the program’s inception in 2019. Payments
were not triggered at any coverage levels. The margin jumped $8.54 from
September 2023 to September 2024. September’s all-milk price experienced a
month to month $1.90 per cwt hike from August’s $23.60 to $25.50. Feed costs
came in at $9.93 per cwt, up 5 cents month over month. This small bump in
feed costs is driven by climbing corn and soybean meal prices.

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