Pennsylvania’s IOFC Down 6.3%
Despite improving milk prices, income over feed cost dropped 6.3% in July for Pennsylvania dairy farmers, reports James Dunn, a Penn State agricultural economist.
“In July, corn, hay and soybean meal all rose compared to June, with very large increases in soybean meal and corn. Soybean meal in particular rose by 45%,” says Dunn.
Dunn is forecasting a Pennsylvania all-milk price average of $19.79/cwt for 2012. But that’s still $2.33/cwt less than 2011, when feed prices were also lower. He expects the state’s all-milk price for the rest of 2012 to average $21.28/cwt.
For his full report, click here.
