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Congress extended the Dairy Margin Coverage program into 2024 through a stop-gap spending measure signed in November, and folded the Supplemental DMC program into the regular program. The September DMC margin was $8.44 per cwt, triggering small Tier I indemnity payments.
October margins were expected to improve.
DMC payments create a farm-level revenue floor that can support production when margins are weak. Improving margins reduce the likelihood of indemnity payments, which means less support for producers in the near term.
agproud.comDave NatzkeNov 27, 2023After 147 past policy events, Milk (Class III) moved a median -0.1% over 5 sessions (46% higher; middle half -1.0% to +0.6%), and -0.2% 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.
