USDA announced the October margin under the Dairy Margin Coverage Program at $9.44 per hundredweight, just six cents under the maximum $9.50 margin coverage level. It’s up 10 cents from September’s margin and the highest this year. It is still $1.27 below margins from a year ago and will result in an indemnity payment of just over $47 per one million pounds of production history. Looking ahead for the last two months of the year, the DMC margin is expected to continue to increase in November above the $9.50 level before falling to below $8.90 per cwt in December.
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