Milk Prices for 2022 are Up - But So is Everything Else
Compared to a year ago, dairy product values are up considerably, and replacement heifer values have followed suite accordingly. According to USDA’s Dairy Market News, the July 2022 All-Milk price was $25.70/cwt., an approximate 30% higher than a year ago. Milk cow prices and springer values have increased as well, although not to the same extreme. Cows are up about 20% to $1,710 per head, and top-quality springers have jumped about that same margin. Meanwhile, feed costs unfortunately continue to surge upward as well. Year-over-year, July 2022 corn is up about 15%, alfalfa hay is up 25%, and soybeans are up 10%. Overall, the index of prices farmers paid for commodities and services, interest, taxes and wage rates in July 2022 was up 12.6% compared to a year ago.
