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April milk-feed price ratio up a little

April milk-feed price ratio up a little
Higher milk prices combined with lower feed prices to raise the preliminary April 2013 milk-feed price ratio. At 1.56, the index is up from 1.48 in March 2013 and 1.41 in April 2012.
The April U.S. average milk price is estimated at $19.30/cwt., up 20¢ from March. Corn prices averaged $6.67/bushel, down 46¢; soybeans averaged $14.20/bushel, down 40¢; and dry alfalfa hay averaged $210/ton, down $9 and the lowest since September 2012.
Often debated for its relevance, the index is based on the current milk price in relationship to feed prices for a ration of 51% corn, 8% soybeans and 41% alfalfa hay.
Current trend: April 2013’s index the highest since January, but marks the 25th consecutive month the milk-feed price ratio is below 2.0.
Source: USDA/NASS Ag Prices report,  April 30
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