As we enter July, here are some financial factors to consider, as well as opportunities for awards, scholarships and the opening of World Dairy Expo cattle show entries.

As we flip to a new month, here's a recap of the news announced last week regarding financial assistance for dairy producers facing HPAI, as well as testing and research updates. The news also highlights new versions of the FARM Program just released, grant funding for dairy initiatives, and corn and soybean planing reports.

The USDA National Agricultural Statistics Service (NASS) released its Agricultural Prices report June 28, which includes feed costs used to calculate May Dairy Margin Coverage (DMC) program margins and indemnity payments. May’s income over feed cost was $10.52 per hundredweight (cwt), the largest margin since November 2022.

Margins appear encouraging with the recent swell in Class III prices and improved feed costs. Cheese exports to Mexico have also been critical for U.S. dairy producers as shipments to China and Southeast Asia have slowed. Yet, with extreme weather conditions and the continued spread of avian influenza, having a strategy to manage risk is essential.

Three new states have detected highly pathogenic avian influenza (HPAI) in a dairy cattle. Last week, state departments in Iowa, Minnesota and Wyoming reported cases of the disease, bringing the total of affected states to 12 and number of cases nationwide to just over 90.

The USDA National Agricultural Statistics Service (NASS) released its Agricultural Prices report May 31, which includes feed costs used to calculate April Dairy Margin Coverage (DMC) program margins and indemnity payments. A $9.60 per hundredweight (cwt) margin was the result of a rally in milk during the second half of the month to offset the steady feed markets.