Though USDA has yet to post the official income over feed cost margin on its website, Dairy Farmers of America (DFA) has calculated the April margin at $7.50.
Combined with the March margin of $7.48, that will trigger an indemnity of 49¢ for those who took full, $8 coverage of Margin Protection Insurance.
The average feed cost in April was $9.02/cwt and the all-milk price was $16.50. That left on IOFC margin of $7.4821. In March, the average feed cost was $9.07, and the all-milk price was $16.60, leaving a margin of $7.5262.
As we reported yesterday, premium payments for 2015 are due Monday. “For operations that have not fully paid their 2015 MPP premiums, MPP payments will be dispersed only after deductions are made for the outstanding premium,” reports DFA.