September Dairy Margin Estimated at $9.99/cwt
In its e-newsletter released today, Dairy Farmers of America estimated the September milk-feed margin will be $9.99/cwt, the 15th consecutive month the margin is above any payout in the Margin Protection Program.
The estimate is based on USDA agricultural prices report released today: Corn, $3.27/bu; alfalfa hay, $149/ton; soybean meal, $307.70 and a U.S. all-milk price of $17.40/cwt.
The September margin was down 28¢/cwt from August, where it came at $10.27. USDA will make its announcement of the official September margin in a day or two.