The Class III milk futures prices have been rebounding since the beginning of April, thanks to recent reports that point to an increasing demand for cheese. Since April 1, Class III milk futures for April through July contracts are up 60 cents per hundredweight, now at $16.92 per hundredweight, with the price per pound for…
USDA announced the February margin under the Dairy Margin Coverage (DMC) Program this week at $9.44 per hundredweight, just 6 cents below the $9.50 threshold. The margin will result in a $0.06 per cwt. indemnity payment for those covered at the maximum level, or just under $50 on one million pounds of production history. The…
Total milk production in the U.S. was down year-over-year for the 8th consecutive month, according to the USDA Milk Production Report released March 20th. February’s total milk production was 18.105 billion pounds, 1.4% below February 2023 levels, when adjusted for Leap Year. Cow numbers nationwide fell 89,000 head to 9.33 million head, up 10,000 from…
Commodity prices went on a roller coaster ride last week with news of an apparent illness affecting dairy cattle in Texas. The USDA and the Texas Animal Health Commission are currently investigating reported occurrences of the illness in the Texas Panhandle. No cause has been determined, but the Texas Animal Health Commission is conducting a…
February 28, 2024 was the first day dairy farms could enroll in the Dairy Margin Coverage (DMC) Program for the 2024 Program Year. You have until April 29, 2024 to enroll at your local Farm Service Agency. However, those who enroll early in the process could receive a payment as early as mid-March for their…
Total dairy farm numbers were released in USDA’s most recent Milk Production Report in late February. Dairy farm numbers fell 5.8% across the nation to 26,290 farms, while Pennsylvania’s dairy farm numbers were down by only 1.2% at 4,940 farms. Pennsylvania remained second in the number of dairy farms, closing in on Wisconsin’s dairyland, now…
USDA opened Dairy Margin Coverage (DMC) enrollment for the 2024 Program Year on February 28. Those farms that enroll early could potentially receive a payment on January milk within the next couple of weeks, depending on where the margin falls. As of February 27, the January margin under the DMC Program was forecast at $8.46…
Prices on the Global Dairy Trade auction have been trending up since the beginning of the year. The Global Dairy Trade platform is the largest online trading platform for core dairy products and has buyers and sellers in more than 60 countries across the world. Commodities are traded through the GDT platform every first and…
If anything, this week taught us to expect the unexpected. On Monday, it was 50 degrees outside and seemed like spring was right around the corner. We woke up Tuesday morning, and there were 4 inches of snow outside. Weather reports were warning about the impending weather, and we all thought the ground was far…
If you’re like me, you probably appreciated the cull cow prices we received in 2023. When milk prices fell to their lowest in the summer months, you could still count on a decent price per pound if you sent a cow to auction. For those who are using some type of beef on dairy program…
