The June issue of the NMPF-DMI Dairy Market Report is now available online. It says that U.S.milk production was 1.2 percent higher in April than a year earlier,interrupting the pattern of the three previous months,which had suggested the nation’s milk supply was experiencing a rapid growth spurt.In other developments that are positive for the producer price outlook, domestic commercial use of milk solids grew faster than milk solids production during the first quarter of 2016,and the dairy trade balance improved in April,compared to the previous several months. Record inventories depressed cheese prices in April, but large butter stocks did not prevent a continued rise in butter prices.The average all milk price was 30 cents per hundredweight lower in April compared to March, while the monthly Margin Protection Program feed cost calculation rose by 64 cents per hundredweight. Those changes put the bimonthly MPP margin for March-April at $7.15 per hundredweight,triggering payments for producers insured to at least $7.50.
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