May 1, 2024: Class III Prices Increasing

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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