The USDA announced October’s Dairy Margin Coverage (DMC) margin at
$15.17 per hundredweight (cwt). For 2024, this will be the eighth consecutive
month with no indemnities triggered at any coverage level. October saw a
40-cent drop in the margin from September’s $15.57. October’s all-milk price
came in at $25.20 per cwt, a 30-cent decrease from September’s $25.50. Feed
costs climbed 10 cents from $9.93 per cwt in September to $10.03 in October.
Increasing alfalfa hay prices and decreasing all-milk prices contributed to the
drop in October’s margin.