Last month, Dairy Management Inc. and the National Milk Producers Federation projected prices overall to end up being at least $25.50 per cwt. That’s well above the 2014 record of $24.00 per cwt.
They report commercial use of milk and other dairy products in the U.S. continued to strengthen from August to October, allowing prices to strengthen even as production increased.
Total U.S. dairy exports exceeded the equivalent of 18% of U.S. milk solids each month since February last year. They also report the Dairy Margin Coverage (DMC) payment trigger level may dip back below $9.50 per cwt. and likely will remain below that level well into 2023.
Dairy Reform
The American Farm Bureau Federation is laying out a series of recommendations for dairy policy reform. It put together a Farm Bureau dairy working group to come up with a plan. The group consists of farmers from each of the four Farm Bureau regions.
