The May Dairy Market Report is now available. Many of the key dairy market statistics reported for March and April indicated that milk prices for U.S. dairy farmers are on the road to improvement. Among them were a rise in the national average all-milk price in March, higher prices in April for the four dairy products that underpin the overall milk price structure in the United States, stronger domestic consumption, surging exports, and a reduction in previously excessive stocks of those key dairy products. There were some continuing negative indicators, as well, including an almost 2 percent rise in total milk solids production during the first quarter and a drop of $0.11 in the monthly margin – due to higher feed costs – under the Margin Protection Program (MPP) from February, to $6.77/cwt. in March.
Comments