The all-milk price rose in February according to USDA’s latest Ag Prices report. The all-milk price of US$0.47/l was up 2.5% from the prior month but still 4.6% lower YOY.

Average MPP farmgate margins rose by 11% between January and February to $10.5/cwt, reflecting a 6% increase in Class III and a2.4% lift in Class IV prices. Feed input costs were down – corn declined 8% from the prior month while soybean meal and alfalfa hay fell by 3.9% YOY and 1% YOY, respectively.