Dairy Week In Review

USDA’s World Agricultural Supply and Demand Estimates report released last week indicated that producer margins could remain tight through 2021. With exports projected to be higher this year, the corn farm price is expected to average $4.30 per bushel, up 74 cents from a year ago. Soybean export estimates were also increased, with ending stocks reduced to just 120 million bushels, the lowest ending stocks in seven years. The soybean meal price was increased by $10 per ton to $400 per ton. These higher feed prices compounded the effects of a lower milk price, with the report dropping the All-milk price estimate for the year by 50 cents to $17.15 per hundredweight. Read More