Monthly call features dairy industry updates and market fundamentals

The Center for Dairy Excellence’s “Protecting Your Profits” call will be held on Wednesday, August 28 at noon. The call will be led by Zach Myers, Risk Education Manager with the Center.

During the call, Myers will compare monthly dairy industry performance scorecards and discuss the effects these numbers have on Pennsylvania dairy farms. He will share how Class III dairy futures are trading virtually the same as this time last month, and Class IV prices are still declining. Class III milk futures are averaging $17.41/cwt for the next 6 months, $0.01/cwt higher than this time last month. Class IV prices continue to trade below Class III and are averaging $16.86 for the next six months, $0.26/cwt lower than last month. June dairy cow slaughter was down 2.65 percent over June 2018. June milk production was down 0.40 percent, and dairy cow numbers were down 0.84 percent from June 2018.

The call will also include information about the September 20th enrollment deadline for Dairy Margin Coverage (DMC). This is the deadline for annual enrollment and for receiving the 25 percent annual discount if farmers sign up for the full five years. It is also the deadline for requesting a refund for Margin Protection Program (MPP) premiums. June margin is $8.63/cwt, triggering a $0.87/cwt payment if enrolled at the $9.50/cwt margin coverage. Dairy-RP policies for 4th quarter 2019 to 4th quarter 2020 are now available for purchase through an Authorized Insurance Provider through September 15, 2019.

 

 

Join the Center on August 28 to look at the dairy industry from a regional, national and global perspective. Find out how these programs and the conventional price risk management tools can fit in to your marketing plan. All are welcome to participate at no cost in the upcoming “Protecting Your Profits” conference call. To register and obtain the conference line information, please call 717-346-0849 or email Myers at zmyers@centerfordairyexcellence.org.

The call will start promptly at noon and last approximately 15 minutes. Calls are recorded and posted on the Center for Dairy Excellence website for those who are unable to join the live session.