Industry News

After a three-month furlough, small Dairy Margin Coverage (DMC) program indemnity payments returned for those producers insured at the top Tier I level on September milk marketings.

Digest Highlights

• DMC: New numbers, new tool and enrollment update
• USDA adds $500 million to food box funding through end of 2020
• Dairy cow slaughter picked up a bit in September
• 2020 fluid sales volumes updated
• Vitaliano: The wild ride continues for cheese
• Video recap: 2020 NDB/NMPF/UDIA virtual annual meeting
• CFAP payment updates
• Progressive Dairy COVID-19 resources

As October and National Co-op Month came to a close, the National Cooperative Bank (NCB) updated revenue and asset totals for the 100 largest cooperatives in the U.S. With higher milk and wholesale dairy product prices, it was a better year for dairy co-op revenues and their members compared to a year earlier.

As the crop insurance industry starts to process third-quarter 2020 Dairy Revenue Protection (Dairy-RP) claims, it is evident some producers who purchased coverage on Class IV milk may receive a payout. Timing was important, and early adopters received better payouts.

The COVID-19 pandemic has weighed heavily on 2020 dairy markets, and that influence is likely to continue for the foreseeable future, according to Mark Stephenson, University of Wisconsin – Madison director of dairy policy analysis. Stephenson discussed factors impacting milk producers and markets during a northeastern Wisconsin farm management update meeting for agricultural professionals, held virtually on Oct. 22.

Digest Highlights

• Senators urge CFAP 2 payments for cull cows
• November 2020 Class I base: $18.04 per cwt
• Foremost Farms selling Minnesota plant
• USDEC opens center in Singapore
• Dairy supply management video to premiere, Oct. 28
• FARM Program to host ‘Quick Convo’ informational sessions
• Impossible Foods boosting research and development