May MILC Payment $1.22/cwt

June 28, 2012 03:10 PM

The United States Department of Agriculture (USDA) announced Thursday the May Milk Income Loss Contract payment rate for May will be $1.22/cwt.

This payment rate is a penny higher than April, and the largest MILC payment since September 2009, which came in at $1.24. Recall that the February through September 2009 MILC payments averaged $1.60/cwt, with the largest coming in March 2009 ($2.01/cwt.).

For more on the MILC program, which is set to expire September 20, 2012, click here.

USDA also announced the May all-milk price at $16.20/cwt, which is the average price received by dairy producers across the country. The preliminary June all-milk price is $16.10, which would be $4.90 lower than the June 2011 all-milk price. The May 2012 all-milk price is $3.40/cwt lower than last year.

USDA’s June ag price report can be found here.


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