April MILC Payment $1.59

May 28, 2009 07:00 PM
USDA released its agricultural prices this afternoon for April, and after all the math is completed, the $7.54/cwt dairy feed price translates into a $1.59 Milk Income Loss Contract payment for April. http://www.usda.gov/nass/PUBS/TODAYRPT/agpr0509.txt
That's down 42¢/cwt from March. The trigger level for April was $17.14, identical to March's trigger. But because Boston Class I prices jumped from 12.68 in March to $13.61 in April, the MILC payment declines from $2.01 to $1.59. http://www.fsa.usda.gov/FSA/webapp?area=home&subject=prsu&topic=mpp-mi
USDA also released preliminary feed prices for May. If those prices hold, the May MILC payment will come in at about $1.50/cwt.

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