# Price and Margin Outlook Challenge Farmers - NMPF

> 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.

- Date: 2023-06-26 · published 2023-06-26T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/35487-price-and-margin-outlook-challenge-farmers-nmpf
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

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.

## Read by commodity

- CORN: neutral
- MILK: bearish ▼

## Sources

- nmpf.org: https://www.nmpf.org/price-and-margin-outlook-challenge-farmers/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.