The USDA’s World Ag Supply and Demand Estimates (WASDE) report offers forecasts for dairy, beef and feedstuffs.

The USDA National Agricultural Statistics Service (NASS) released its Agricultural Prices report Oct. 31, which includes feed costs used to calculate the September Dairy Margin Coverage (DMC) program margins and indemnity payments. The month’s margin was $15.57 per hundredweight (cwt).

After peaking last month, U.S. dairy producer milk checks in many marketing areas are likely headed lower during the fourth quarter of the year.

Here are some updates in dairy news this week.

Milk futures remain high as feed costs drop to levels last seen in 2020, yet other market pressures such as lower butter and cheese prices and waning holiday demand, as well as recent milk production reports revealing gains for the first time in more than a year, complicate the matter.

U.S. milk production was down 3.9% in September compared to a month prior, according to the USDA’s September Milk Production report released Oct. 21. Production was up 0.1% year over year, while third quarterly estimates (July-September) were also up slightly from the same time in 2023.

The USDA’s World Ag Supply and Demand Estimates (WASDE) report offers forecasts for dairy, beef and feedstuffs.

Dairy producers visiting World Dairy Expo are seeing some of the best cows in the U.S. Returning home, many could see some of the strongest milk checks in almost two years.