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USDA's Dairy Margin Coverage margin for March was announced at $9.65 per cwt, the highest since December 2022. The all-milk price rose 10 cents to $20.70 per cwt while feed costs fell 11 cents to $11.05.
Improving dairy margins support milk prices and can encourage herd retention, while lower feed costs ease producer pressure on feed demand. The effect on feed prices is modest.
centerfordairyexcellence.orgMay 1, 2024After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
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.
