ARLINGTON, VA – The U.S. average all-milk price increased by a full dollar per hundredweight from a month earlier to $18.40 in April according to the National Milk Producers Federation (NMPF). This had been anticipated by the strong increases in April Class III and Class IV prices announced several weeks earlier, together with smaller increases in April Class I and Class II prices. The Dairy Margin Coverage (DMC) feed cost calculation increased by 52¢, mostly from a higher corn price, producing a monthy net increase of 48¢ in the April DMC margin, and an April payment of $2.56 for coverage at the $9.50 level. USDA estimated that 2021 DMC payments for disbursment reached $446 million as of June 7th with half of these estimated payments made to enrolled producers in the four states of Wisconsin, California, New York and Minnesota.
(SOURCE: All Ag News)