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NMPF officials said Dairy Margin Coverage payments turned out to be a surprise in 2020, and farmers in the five-year program face a deadline to file paperwork with the FSA. Class III milk prices are expected to grind lower into 2021 while feed costs remain high.
Expected lower Class III prices combined with high feed costs squeeze dairy margins, which can reduce dairy herd size and feed purchasing over time.
rrfn.comDon WickDec 3, 2020Not 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.
