|Missouri Dairy Business Update|
|Volume 3, Number 4|
Milk prices have begun to strengthen. Increased culling, moderating milk production, and expectations about NMPF's CWT program are starting to pull summer futures above support levels.
According to the latest USDA Dairy Outlook, "Dairy cow slaughter remains large relative to a year earlier."
Historical Missouri milk prices may be found at: http://agebb.missouri.edu/modbu/milkprices.htm
|Current USDA Milk Price Forecasts|
|16-Apr-03||1st Q 2003||2nd Q 2003||3rd Q 2003||4th Q 2003|
|Class III Price||9.52||9.15 to 9.55||9.55 to 10.15||9.95 to 10.95|
|Class IV Price||9.89||9.50 to 10.00||9.65 to 10.45||9.80 to 10.90|
|Source: USDA, ERS, Livestock, Dairy & Poultry Outlook|
|2003 Milk Futures on the Chicago Mercantile Exchange|
|Class III Price||$9.41||$9.80||$10.25||$10.85||$11.39||$12.15||$12.20||$11.92||$11.76||$11.45||$11.50||$11.40|
|Class IV Price||$9.85||$10.15||$10.15||$10.17||$10.25||$10.30|
MILC payments hit $1.79 for May
To view the calculations behind the MILC payments and to check the very latest MILC payments check the NE Milk Marketing Administrators website at: http://www.fmmone.com/Northeast_Order/MILC%20calculator/DMLP.htm
|Known MILC Payments for 2003 are||Estimated MILC payments based on futures, as of 4/29/2003. Source http://cpdmp.cornell.edu/|