Futures prices for milk and feed are looking favorable for dairy producers with the fourth quarter of 2024 on the horizon. At the time of this report, the all-milk price forecast was at a staggering $25.06 per hundredweight (cwt) for September and feed costs were at $10.27 per cwt, the lowest since 2020.

Several big initiatives are making headlines. Here is the latest news affecting dairy producers across the country.

U.S. Secretary of Agriculture Tom Vilsack and U.S. Trade Representative Katherine Kai recently announced 55 new or reappointed members of seven different agricultural trade advisory committees.

From lower bankruptcy filings and interest rates to slight increases in farmer sentiment and the Global Dairy Trade, news for the first week of August is fairly positive.

The USDA National Agricultural Statistics Service (NASS) released its Agricultural Prices report July 31, which includes feed costs used to calculate June Dairy Margin Coverage (DMC) program margins and indemnity payments. June’s margin was $11.66 per hundredweight (cwt).

Margin outlook has significantly improved from a few months ago as sustained high cheese and butter prices drive milk prices higher and lower feed costs all contribute to the positive outlook.

Here is the latest news affecting a dairy producer's bottom line as we start the fourth week of July.

U.S. beef export values reached $902.4 million in May, 3% higher than last year and the highest point since June 2023, according to USDA data compiled by the U.S. Meat Export Federation.