Dairy Revenue Protection (Dairy-RP) has emerged as an effective risk management tool for dairy producers, offering protection against unexpected declines in quarterly milk revenue.

The USDA National Agricultural Statistics Service (NASS) released its Agricultural Prices report March 28, which includes feed costs used to calculate February Dairy Margin Coverage (DMC) program margins and indemnity payments.

Year-over-year U.S. milk production was up 2.2% in the February USDA report. However, with February 2024 containing an extra day due to “leap year,” the adjusted number is closer to -1.1% on a daily basis.

Here is a quick look at dairy-related news from last week.

Here’s an update on economic factors impacting your dairy’s financial picture as we begin March 2024.

The USDA National Agricultural Statistics Service (NASS) released its Agricultural Prices report Feb. 29, which includes feed costs used to calculate January Dairy Margin Coverage (DMC) program margins and indemnity payments.

Federal Milk Marketing Order (FMMO) uniform milk prices slipped lower in January, a combination of lower Class I and Class III milk class prices and continued depooling of Class IV milk.

The USDA’s World Ag Supply and Demand Estimates (WASDE) report identifies milk and feed factors potentially impacting dairy producer income in the year ahead.

On Jan. 30, the Federal Milk Marketing Order (FMMO) public hearing came to a close. The national hearing, which took place in Carmel, Indiana, began back on Aug. 23, 2023, and included 12 weeks of testimony and cross-examination. Dairy groups are calling for swift action to change the Class 1 mover formula.

Here’s an update on economic factors impacting your dairy’s financial picture as we turn the calendar to February 2024.