May’s Dairy Margin Coverage margin was announced at $10.52 per
hundredweight (cwt), $1.02 over the $9.50 maximum coverage level
and did not trigger indemnities at any coverage level. May’s margin was
up 92 cents per cwt from April’s margin. Year-over-year, May’s margin
shot up from 2023 at $4.83 per cwt, a $5.69 increase. May 2024’s
all-milk price came in at $22.00 per cwt, which was up $1.50 from last
month and up $2.70 from last May. Total feed costs were announced at
$11.48 per cwt., up 58 cents from April but well below feed prices a
year ago at $14.47 per cwt.