Risk Management
Small changes in the U.S. average feed cost and milk price were enough to push November’s Dairy Margin Coverage (DMC) margin higher.
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Dairy risk management calendar: January 2024
The 2024 Dairy Margin Coverage (DMC) program enrollment period should be announced soon.
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Economic Update: January 2024 Class I base price weakens
‘Average-of’ formula continues to impact price
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Look for 2024 DMC program enrollment details early next year
As we saw in recent years, using beginning of the year milk and feed price forecasts to determine DMC participation can be risky.
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Weekly Digest: DMC payments, dairy export updates
The USDA’s dairy export forecast is reduced as the overall ag trade deficit grows.
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Weekly Digest: Final decision issued for Southeast FMMOs
Meanwhile, the national hearing on Federal Milk Marketing Order (FMMO) pricing formulas resumes this week at a new location.
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October DMC margin hits 10-month high at $9.44 per cwt
Overall U.S. average feed costs were lower and milk prices were up, pushing the milk income margin to the highest level since December 2022.
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Dairy risk management calendar: December 2023
Progressive Dairy provides monthly online updates of important dates, reports and factors affecting risk management decisions.
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Economic Update: Ag loan interest rates nearing 9%
October’s Dairy Margin Coverage (DMC) program margin will be announced next week.
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Year-to-date 2023 DMC payments top $1.27 billion
Latest funding proposal extends program through 2024.
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