US expects strong corn and soybean yield with positive milk over feed margins

US dairy producers may be in for favorable margins through the rest of 2024 thanks to strong milk prices and lower feed costs, according to Ever.Ag analysts. Class III milk prices remain in the $20 range, with Class I and Class II both above $20. At the same time, strong corn and soybean production coupled with greater exports may continue the downward push on these commodity prices. “Overall, we're in this position where feed costs are looking to be fairly low or could be fairly low as we go through the rest of this year,” explained Ever.Ag commodity broker Bryce Windecker. “And on the flip side, milk prices are pretty high. It’s been a long time since we’ve talked about the forward margin looking pretty positive. “But with that in mind, I’d caution that when we have high margins, it tends to bring out a little bit more milk, and what comes up must come down. But milk over feed margins do look very positive today.” Kathleen Noble-Woofley explained that corn markets had come under ...