Whether buying or selling hay, there’s plenty to unwrap as the calendar year comes to a close.

Progressive Dairy summarizes issues in the news and attempts to describe how they might affect dairy farmers.

The USDA’s December World Ag Supply and Demand Estimates and Crop Production reports provide production and price forecasts.

The USDA’s Farm Service Agency has extended the 2023 Dairy Margin Coverage (DMC) enrollment and coverage election period until Jan. 31, 2023. The program deadline was originally scheduled to close on Dec. 9, 2022.

Digest highlights

• Petition seeks higher transportation credits in southeastern U.S. FMMOs
• USDA publishes ‘cattle contracts library’ rule
• Other news, briefly

The spread between Class IV and Class III milk prices continues to decline, suggesting a reduction in Class IV depooling – but maybe not yet.

Farm families concerned about hitting top federal or state estate tax exemptions need to begin working on farm succession and estate plans to limit potential tax liability down the road.

Reminder: Dairy producers can enroll and make 2023 DMC coverage elections through Dec. 9 at USDA Farm Service Agency offices.

Digest highlights

• CDI acquiring DairyAmerica
• Nominees sought for Fluid Milk Processor Promotion Board
• Maryland livestock brokers sentenced
• NMPF updates regulatory issues
• U.S. dairy export outlook updated
• U.S. ag export deficit to grow
• Ag census distribution underway

The Dairy Margin Coverage program October margin will be announced on Nov. 30. Check back with Progressive Dairy.