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February MILC: 52.22¢ (we think)

February MILC: 52.22¢ (we think)
With USDA’s Ag Prices report establishing the feed cost adjuster, the February Milk Income Loss Contract (MILC) program payment will be 52.22¢/cwt. However, there is still confusion over whether sequestration will for USDA to reduce the MILC payment.
Brian Gould, UW-Madison dairy economist, said preliminary March milk and feed price estimates indicate the March MILC payment will be about 76.96¢/cwt.
Gould also updated projected FY ’13 MILC payments based on milk and feed futures prices at the close of trading on March 27. The projected payments (cents/cwt.) are: April – 67.98¢; May – 37.16¢; June – 16.85¢; July-September – 0.00¢. Visit Gould’s “Understanding Dairy Markets” website: http://future.aae.wisc.edu/.