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Dairy income over feed cost — chart & history
Dairy income over feed cost ($/cwt): Milk price minus the feed to make 100 lb of milk, using USDA's Dairy Margin Coverage ration: 1.0728 bu corn + 0.00735 t soybean meal + 0.0137 t alfalfa hay. Below ~$8/cwt dairy margins are tight. Source: Feedsoft, from benchmark prices.