The May issue of the NMPF-DMI Dairy Market Report is now available. It says that increased production per cow and expectations for additional milk production growth is dampening the outlook for milk prices for the rest of 2016. These anticipated low milk prices and the recent rally in grain prices during the spring planting and growing season have combined to push projections for the dairy-income-over-feed-cost margin to its lowest levels since 2013. USDA’s NMPF decision tool for the Margin Protection Program (MPP) now indicates that the MPP margin may fall below $6.00 per hundredweight for the May-June period.
 |  |  |  |  |  |  |  |  |