September 2023 Midwest Market Updates

Profile Picture of Post's Author Erin Mosley | Posted September 11, 2023

September analysis of feed pricing for the Midwest region identified 6 feeds as value priced:  corn gluten meal, corn distillers dry, corn gluten feed, corn ground, cottonseed, and corn silage. Soybeans roasted, meat and bone meal, beet pulp, wheat straw, and tallow were identified as priced above market value. Additionally, with September feed pricing changes, we see a ~$0.04/cow/day (or $0.001/lb DM) decrease in the calculated nutrient cost from August to September.

August component pricing for butterfat was $3.02 vs $2.80 in July, protein was $2.09 vs $1.20 in July, and other solids was $0.06 vs $0.07 compared to July. Protein pricing rebounded to values similar to Spring 2023. Other solids pricing is lowest value since April 2018 ($0.06). With these component shifts, calculated month to month milk income was increased (August ~$14.00/c/d (July ~$11.25) (Holsteins) or August ~$14.55/c/d (July ~$11.79) (Jerseys)).

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