Total U.S. dairy exports have steadily increased over the past three months. First quarter U.S. milk production rose 0.8% from a year earlier, due mostly to increased cow numbers; milk solids production grew by 2.1% over the same period.
Mostly lower dairy product prices in April produced a drop in Class II and Class IV prices from both last month and a year ago. April Class III prices were down from a month ago up but well above a year earlier. The DMC Decision Tool is estimating that the DMC margin has already reached its lowest level for the year, $10.43/cwt, in April.
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