NMPF projects MILC payments

January 5, 2009 06:00 PM
 
            In its News for Dairy Co-ops released this afternoon (www.nmpf.org/latest_news/news_dairy_coops/jan_6_09articles), the National Milk Producers Federation projected Milk Income Loss Contract payments will start in February at 94¢/cwt. NMPF estimates the payment will jump to $1.64/cwt in March, and payments could stretch out through February 2010.
            The projections average $1.10/month over the last eight months of fiscal year 2009, about 25% more than they would have without the new feed cost adjustor. The adjustor bumps the $16.94 Boston Class I target price up when feed costs exceed $7.35/cwt for 16% dairy feed.
            The payment limit has also been increased to 2.895 million lbs, or roughly 150 cows. The previous limit had been 2.4 million lb. per farm. For more information, go to  http://www.fsa.usda.gov and click on Price Support Program or contact your local Farm Service Agency office.
           

Back to news


 

Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close