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NMPF's chief economist projects a 2023 US All-Milk price near $20.45/cwt with average DMC feed costs of $14.20/cwt, leaving a thin average margin. DMC margins are expected to fall well below $5/cwt during May to August, triggering Tier 2 payments.
USDA's June WASDE forecast a $19.95/cwt milk price.
Tight dairy margins and weak milk prices reduce farmer feed buying capacity and may slow herd growth, which trims future demand for feed ingredients like corn and soymeal.
nmpf.orgAlan BjergaJun 26, 2023Not enough comparable past events yet for a historical read.
Not 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.
