November “Protecting Your Profits” Recording Now Available With Dairy Market Updates

The Center for Dairy Excellence has published its monthly “Protecting Your Profits” discussion with updates about the November 2023 milk marketplace. The Center’s Executive Director Jayne Sebright shared her perspective on milk markets, supply factors, and what risk management programs are offering in terms of margin right now.

“December is a great time for planning, reflection, and looking at those controllables in your milk price. The Center has resources to help, and this month’s ‘Protecting Your Profits’ discussion touches on some key market updates and ways you can start evaluating your risk management strategy heading into 2024,” Sebright shared.

View highlights from the November “Protecting Your Profits” discussion:

• Class III and IV prices in 2024 show a little improvement from 2023. They are up slightly from the five-year average.
• Milk production was down again in October, with cow numbers down nationwide and cows continuing to move out of the western region of the US.
• Exports continue to show weakness, down 12 percent in September and down 7 percent year to date.

As part of the risk management portion of the conversation, Sebright shared the latest Dairy Margin Coverage (DMC) margins. The October DMC margin was 6 cents under the $9.50 level, but DMC was still an important tool in 2023. It yielded more than $24,000 in indemnity per one million pounds of coverage.

To access the “Protecting Your Profits” recording in a format that is most convenient for you, the Center offers the series in a webinar and podcast format each month at no cost. Visit www.centerfordairyexcellence.org/pyp to watch the full webinar or listen to the podcast. Subscribe to get notified via a text alert when the recordings are released each month. The December 2023 discussion is expected to be released the last week of the month.

For more information about risk management planning, call the Center at 717-346-0849 or email Sebright at jsebright@centerfordairyexcellence.org.

The Center for Dairy Excellence is a non-profit organization initiated by the Pennsylvania Department of Agriculture in 2004. Bringing together people from more than 40 different dairy organizations in Pennsylvania, the Center’s mission is to enhance the profitability of the dairy industry by empowering people, creating partnerships, and increasing the availability and use of resources. Learn more at centerfordairyexcellence.org.