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DMC Margin Falls in December
USAgNet - 02/04/2021

The monthly margin under the Dairy Margin Coverage program dropped by $3.09 per cwt in November to $8.78 per cwt in December, mostly driven by lower milk prices, generating payments to producers under the USDA's flagship risk-management program.

The all-milk price declined by $2.80 per cwt for the month, mostly because of a substantially lower December cheese price. The DMC margin was further lowered by a $0.29 per cwt boost in the feed cost added to it. On a per hundredweight of milk basis, the higher feed cost consisted of cost increases of 19 cents, 7 cents and 3 cents for corn, soybean meal, and alfalfa hay, respectively.

The December margin will generate a payment of $0.72 per cwt for $9.50 per cwt coverage that month; for the year, average DMC payments were $0.73 per cwt per month.


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