Here’s Progressive Dairy’s monthly review of the numbers to provide some additional transparency to your milk check.

Compared to last month, the USDA left the 2023 milk production estimate unchanged but reduced 2024 production expectations slightly. The outlook for prices continues to weaken.

January-May DMC payments averaged $36,147 per dairy operation enrolled in 2023.

June 2023 FMMO pooling estimates, uniform prices and producer price differentials are scheduled to be released the week of July 10.

The May 2023 margin continues to be what looks like a lengthy stretch of extremely small margins and high indemnity payments into July-August.

The Federal Milk Marketing Order (FMMO) advanced Class I base price continues its descent in July, falling to the lowest level since October 2021.

Cow numbers are up but may be turning the corner downward.

Here’s an update on risk management tools available through the USDA and/or USDA’s Risk Management Agency (RMA), as well as other information impacting your milk check.

With generally improving pastures and lower expected feed costs this year, the demand for feeder calves is well supported.

It’s not a playground, but FMMO prices teeter pooling totals.