The Dairy Margin Coverage margin fell $0.73/cwt to $13.12/cwt for March as milk prices fell and feed costs rose.

The U.S. average all-milk price lost $0.50/cwt in February, falling to $23.60/cwt, while higher feed costs covered the rest of the margin loss. The DMC Decision Tool on the USDA Farm Service Agency website at the end of March projected the monthly margin would average $12.51/cwt during 2025, with a low of $11.10/cwt in May. Such a performance would result in no DMC payouts for farmers this year.