# DMC Profit Margins Hit All-Time Highs

> USDA's Dairy Margin Coverage data show September milk-over-feed margins hit an all-time high of $15.57/cwt. The high margin came from record CME spot barrel prices and cheap feed, with corn under $4/bu and soymeal under $350/ton. The All-Milk price was $25.50/cwt.

- Date: 2024-11-05 · published 2024-11-05T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/8628-dmc-profit-margins-hit-all-time-highs
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Record margins encourage dairies to expand output, which raises future demand for feed such as corn, soymeal and hay while signaling strong milk demand in the near term.

## Read by commodity

- SBM: neutral
- CORN: neutral
- MILK: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2019-01-16 | [Dairy and the cost of production in tough times \| UMN Extension](https://feedsoft.ai/events/61113-dairy-and-the-cost-of-production-in-tough-times-umn-extension.md) | -0.5% | -0.3% |
| MILK | 2022-03-01 | [High input costs temper strong milk prices \| Capital Press](https://feedsoft.ai/events/42419-high-input-costs-temper-strong-milk-prices-capital-press.md) | +8.1% | +7.1% |
| MILK | 2021-12-22 | [US butter market shifting from abundance to scarcity \| Dairy Processing](https://feedsoft.ai/events/43597-us-butter-market-shifting-from-abundance-to-scarcity-dairy-processing.md) | -0.3% | +9.6% |
| MILK | 2026-07-21 | [Protein inflation surges as costlier fodder pushes up milk, chicken prices - The Economic Times](https://feedsoft.ai/events/18511-protein-inflation-surges-as-costlier-fodder-pushes-up-milk-chicken-prices-the.md) | +0.1% | +5.4% |
| MILK | 2019-01-21 | [Cornell Professor Shares 2019 Dairy Economy Predictions - EDairy News English](https://feedsoft.ai/events/61110-cornell-professor-shares-2019-dairy-economy-predictions-edairy-news-english.md) | -0.1% | -0.1% |
| CORN | 2019-07-23 | [High production, competing proteins, closed foreign markets challenge U.S. chicken industry](https://feedsoft.ai/events/58239-high-production-competing-proteins-closed-foreign-markets-challenge-u-s-chicken.md) | +0.9% | -10.8% |
| CORN | 2026-08-01 | [Economist sees growing risk for tighter feeder cattle margins in 2027](https://feedsoft.ai/events/18480-economist-sees-growing-risk-for-tighter-feeder-cattle-margins-in-2027.md) | -0.6% | +10.8% |
| CORN | 2020-11-20 | [Decoding the price fluctuations of 2020 feed byproducts - High Plains Journal](https://feedsoft.ai/events/50261-decoding-the-price-fluctuations-of-2020-feed-byproducts-high-plains-journal.md) | +0.1% | +1.2% |

## Sources

- dairyherd.com: https://www.dairyherd.com/markets/milk-prices/dmc-profit-margins-hit-all-time-highs

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