Markets & Management

The March margin under USDA’s Dairy
Margin Coverage Program was announced just after the enrollment for
the 2024 Program closed. The margin is 15 cents above the maximum
$9.50 margin coverage level, announced at $9.65 per cwt, the highest
since Dec. 2022. March’s all-milk price was announced at $20.70 per
cwt., up 10 cents from February, while feed costs fell 11 cents to $11.05
per cwt. Corn prices were flat month over month, while both alfalfa
hay and soybean prices were down slightly.

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