May MILC payment $1.47/cwt

June 30, 2009 07:00 PM
USDA announced today that the May Milk Income Loss Contract (MILC) payment rate for May will be $1.47/cwt. That's based on a Boston Class I price of $14.22/cwt and a feed adjustor rate of $7.87/cwt. Without the feed adjustor, the May MILC payment would have been $1.22/cwt. 
Cornell University is projecting the June MILC will climb back to $1.81/cwt. It also projects July at $1.67, and doesn't forecast Class I prices to climb above the trigger for MILC payments until February 2010.

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