August 1, 2018: Dairy Week In Review

USDA released its July Agricultural Prices report. The June all-milk price was up 10 cents from last month to $18.10 per hundredweight, while the corn price was up 35 cents to $3.98 per bushel. The soybean meal price was up $27.53 to $324.75 per ton, while the blended alfalfa hay price fell $8 to $205 per ton. Based on those figures, the milk margin above feed costs announced under the Dairy Margin Coverage Program was $8.63 per hundredweight, resulting in a payment of 87 cents for those farmers enrolled at the $9.50 level. Read More