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A Center for Dairy Excellence column compares the 2022 and 2023 dairy margin environment. The May 2023 Dairy Margin Coverage margin fell to a record low of $4.83 per cwt, and USDA projected the July margin would drop below the $4 catastrophic level.
Thin margins from low milk prices and high feed costs push farmers toward culling and reduced feed purchases. That lowers dairy feed demand while milk prices stay under pressure.
centerfordairyexcellence.orgJul 19, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
