Year-to-date, the 2014 average all-milk price stands at $24.72/cwt., up $5.18 from the same period in 2013.
Despite the national average decline, Florida dairy farmers saw May 2014 prices increase 50¢, to $29.20/cwt. Dairy farmers in Virginia, at $27.40/cwt. and Oregon, at $27.00/cwt., were also among the nation's leaders. Thirteen other states saw average milk prices at $25.00/cwt. or higher, according to the USDA/NASS Ag Prices report.
Among the largest milk-producing states, California's May all-milk price averaged $22.30/cwt., down $1.11 from the April revised estimate. New York’s average, at $25.90/cwt., was down 40¢, while Wisconsin, at $25.60/cwt., was down 70¢ from the month before. Idaho, at $23.70/cwt., was down 80¢.
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Prices received for all milk, major dairy states and U.S. ($/cwt.)
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May 2013
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April 2014
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May 2014*
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Arizona
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19.00
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24.30
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23.90
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California
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18.23
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23.41
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22.30
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Colorado
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19.70
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25.00
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24.90
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Florida
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22.80
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28.70
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29.20
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Idaho
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19.10
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24.50
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23.70
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Illinois
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20.30
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26.20
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25.60
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Indiana
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20.30
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25.50
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25.10
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Iowa
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20.40
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26.20
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25.80
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Kansas
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19.70
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25.50
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25.30
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Michigan
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20.00
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25.40
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25.00
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Minnesota
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20.50
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26.60
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25.90
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New Mexico
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18.20
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23.40
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23.40
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New York
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20.50
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26.30
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25.90
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Ohio
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20.60
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25.80
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25.40
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Oregon
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21.20
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27.20
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27.00
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Pennsylvania
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20.90
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26.80
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26.50
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South Dakota
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21.30
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26.50
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25.90
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Texas
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19.80
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26.20
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26.00
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Utah
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19.20
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24.60
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24.50
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Vermont
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20.70
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26.60
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26.30
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Virginia
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21.60
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27.40
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27.40
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Washington
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20.10
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25.70
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24.80
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Wisconsin
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20.40
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26.30
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25.60
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United States
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19.70
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25.30
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24.70
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Source: USDA
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* Preliminary
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May milk-feed price ratio slips
A slight decline in the U.S. monthly average milk price combined with higher alfalfa hay and soybean prices to push the preliminary May 2014 milk-feed price ratio down for a third consecutive month. At 2.28, the index is down from 2.43 in April 2014 and the lowest monthly average for 2014, according to the USDA/NASS Ag Prices report.
The index is based on the current milk price in relationship to feed prices for a ration of 51% corn, 8% soybeans and 41% alfalfa hay.
The May 2014 U.S. average all-milk price was $24.70/cwt., compared to $25.30/cwt. in April 2014 and $19.70/cwt. in May 2013.
May corn, at $4.71/bushel, was unchanged from April, but $2.26 less than May 2013.
May 2014 soybeans averaged $14.50/bushel, up 20¢ from April, but down 40¢ from May 2013.
Alfalfa hay averaged $224/ton in May, up $18 from April 2014 and $3 more than May 2013. Among major dairy states, preliminary May 2014 alfalfa hay prices hit $265/ton in New Mexico; $260/ton in California; and $252/ton in Texas. Prices were lowest in North Dakota and Nebraska, at $99/ton and $125/ton, respectively.
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Milk-feed price ratio*
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May 2013
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April 2014
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May 2014
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Milk ($/cwt.)
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19.70
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25.30
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24.70
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Corn ($/bu.)
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6.97
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4.71
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4.71
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Soybeans ($/bu.)
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14.90
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14.30
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14.50
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Alfalfa hay ($/ton)
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221
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206
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224
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Milk-feed ratio
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1.53
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2.43
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2.28
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Source: USDA Ag Prices report
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* The price of commercial prepared dairy feed is
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based on current United States prices received for
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corn, soybeans, and alfalfa hay. The rmodeled feed
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ration uses 51% corn, 41% alfalfa hay and 8% soybeans
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Cull cow prices top $1/lb. again
Estimated U.S. May 2014 cull cow prices (beef and dairy combined) averaged $104.00/cwt., according to the USDA/NASS Ag Prices report. The average is up $1.00/cwt. from April’s revised estimate, and $22.20/cwt. more than May 2013. At that price, a 1,300-lb. cull cow is worth $1,352.
