Milk prices drop for second straight month

Published: Oct. 6, 2020 at 7:10 AM CDT
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EAU CLAIRE, Wis. (WEAU) - Dairy farmer milk prices went the wrong direction in September. The Class 3 price for the month officially came in at $16.43-down $3.34 from August and $1.88 below last September’s price. That’s the second straight month of falling prices after the Class 3 peaked at $24.64 in July. That September price will again lower the yearly average which stood at $17.48 for the first 8 months of this year.

Good weather last week across major farm country let farmers really move ahead with the fall harvest. They now have 38% of their soybeans off-a jump of 18% from the week before. According to this week’s Crop Progress Report that’s 26% ahead of last year’s progress for early October. Minnesota farmers lead the way with 61% of their beans already in the bin. Soybeans are rated 64% in good to excellent condition. The corn harvest is also ahead as 25% of the corn has now been harvested-a jump of 10% from last week. Illinois farmers have combined 26% of their corn with Iowa right behind at 25%. The corn crop is rated 62% good to excellent this week.

In Wisconsin, 8% of the corn for grain has been harvested while 90% of the corn silage has been taken-both well ahead of normal. Both the condition of the corn crop and harvest progress are about a month ahead of where they were last year. The condition of the state corn crop this week is up 3% to 80% good to excellent. The soybeans are also way ahead in maturity and harvest as 18% of our soybeans have been combined-about 2 weeks ahead of last year. Soybeans are rated 83% good to excellent across the state this week. State farmers have also put up 90% of their 4th hay crop, harvested 79% of the fall potatoes, planted 68% of their winter wheat and finished 11% of their fall tillage. Topsoil moisture this week is up just a bit to 87% adequate to surplus, 11% short and 2% very short.

Before he went into the hospital for the weekend, President Trump signed the bill that will keep the government open through December 11th. Included in that bill is a provision to give $30 billion to the Commodity Credit Corporation so it can continue funding farm programs. That will let the USDA to continue to make payments to farmers without interruption as well as extending the Livestock Mandatory Reporting Act which provides regular market information for pricing in the country.

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