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MILC payment projections updated

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Got your fiscal year 2013 Milk Income Loss Contract (MILC) program payment “start month” established?

Brian Gould, UW-Madison dairy economist, updated projected FY ’13 MILC payments based on milk and feed futures prices at the close of trading on Feb 15. The projected payments (cents/cwt.) – down slightly from forecasts a week ago – are: January – 11.41¢; February – 33.07¢; March – 50.79¢; April – 35.09¢; May – 25.56¢; June – 16.94¢; July-September – 0.00¢.

A reminder: The “relief period” for dairy producers with annual production above the payment cap of 2.985 million lbs. and wishing to change their “start month” in FY ’13 is Feb. 1-28.

For additional information, visit Gould’s “Understanding Dairy Markets” website: http://future.aae.wisc.edu/.

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