*Predicted values based on Class III and Class IV futures regression (Gould, 2018).
Table 3: 24 month Actual and Predicted* Class III, Class IV, and Pennsylvania Average Mailbox Price ($/cwt)
*Italicized predicted values based on Class III and Class IV futures regression (Gould, 2018).
To look at feed costs and estimated income over feed costs at varying production levels by zip code, check out the Penn State Extension Dairy Teams DairyCents or DairyCents Pro apps today.
Data sources for price data
All Milk Price: Pennsylvania and U.S. All Milk Price (USDA, 2018)
Predicted Class III, Class IV, and Pennsylvania Mailbox Price (average of the Eastern and Western PA mailbox Price) (Gould, 2018)
Alfalfa Hay: Pennsylvania and U.S. monthly Alfalfa Hay Price (USDA, 2018)
Corn Grain: Pennsylvania and U.S. monthly Corn Grain Price (USDA, 2018)
Soybean Meal: Feed Price List (Ishler, 2018) and average of Decatur, Illinois Rail and Truck Soybean Meal, High Protein prices, National Feedstuffs (Gould, 2018).
Bailey, K. and V. Ishler. “ Dairy Risk-Management Education: Tracking Milk Prices and Feed Costs”. Penn State Extension. Accessed 9/20/2017.
Beck, T.J., Ishler, V.A., & Goodling, R. C. 2018. “Dairy Enterprise Crops to Cow to Cash Project,” the Pennsylvania State University. Unpublished raw data.
Dairy Records Management Systems. “DairyMetrics Online Data Report system”. Accessed 9/14/2017.
Gould, B. 2018. “Predicted Mailbox Prices". Understanding Dairy Markets website. University of Wisconsin-Madison. Accessed 6/2/2018.
Gould, B. 2018. “National Feedstuffs: Soybean Meal, High Protein”. Summary of USDA AMS Grain Reports. Accessed 6/2/2018.
Ishler, V. “ DairyCents Mobile App”. Penn State Extension. #App-1010.
Ishler, V. “ DairyCents Pro Mobile App”. Penn State Extension. #App-1009.
Ishler, V. “Feed Price List”. Personal Communication. Accessed 6/5/2018.
Microsoft 2016. “Forecast.ets function”, Office Help Website .
USDA NASS, 2018. Agricultural Prices, Quick Stats version 2.0. Accessed 6/5/2018.
USDA AMS, 2018. Milk Marketing Order Statistics. Accessed 6/5/2018.
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