Dairy Outlook Warns Milk Profit Tightens As Feed Costs Rise
Dr. Bob Cropp notes farm milk prices may edge up 3 to 4 cents in June as production slows, but the milk feed price ratio worsens with feed costs up 23 percent year over year and hay stocks down sharply in many states. Dry weather and winterkill reduce hay, while CCC purchases keep pressure on butter, cheese, and nonfat dry milk prices, with 1981-82 support uncertain and likely around 70 percent of parity. May production rose while profitability remains below the old support level.
MENTIONED IN THIS ARTICLE
Bob Cropp
Dr. Cropp
Wisconsin
Cropp
California
Texas
Oklahoma
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United States
Commodity Credit Corp
CCC
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