All milk price breaks $27/cwt in April
Dairy markets are breaking new ground, with the Wisconsin all milk price for April hitting $27.10/ cwt. This reflects over an $8 increase in the April all milk price in 2021.
Farmers are no stranger to the up and down price swings of the milk markets. Prior to the pandemic, dairy farmers saw a Class III milk price of $17.05 in January 2020. The milk price plummeted to $12.14 in May. However, two months later the all milk price climbed to $24.54, a record for the month of July.
This latest all milk price surpasses a record-breaking mark of $26.60/cwt in the fall of 2014.
On the national market, spot butter jumped to $2.9350/lb, the highest price since January in the CME spot dairy product auction.
Commodity prices are on an upward trajectory as well. According to the latest USDA, National Agricultural Statistics Service – Agricultural Prices report the average price received by farmers for corn during April 2022 in Wisconsin was $6.89 per bushel – 55 cents above the March price and $1.74 above April 2021.
The April 2022 average price received by farmers for soybeans, at $15.50 per bushel, 30 cents above the March price and $1.60 above the April 2021 price. The April average oat price per bushel, at $5.70, was 31 cents above March and $2.39 above April 2021.
Farmers hoping to supplement their dwindling feed reserves prior to the first hay harvest spent more at hay auctions this spring. All hay prices in Wisconsin averaged $152.00 per ton in April. This was $1.00 above the March price and $3.00 above the April 2021 price.
The April 2022 alfalfa hay price, at $161.00, was unchanged from the previous month but $4.00 above April 2021. The average price received for other hay during April was $125.00 per ton. This was $5.00 above the March price and $4.00 above April last year.
The average price for milk was $27.10 per cwt, $1.80 above the March price and $8.20 above April 2021.