MPP Forecast: April
April 4, 2016
NMPF’s forecast for 2016 MPP margins, based on late-March milk and feed futures prices, indicates that nearby margins may dip below the $8 threshold before strengthening in the latter half of 2016. The USDA reported last week that the Jan.-Feb. 2016 margin was $8.01, a penny above the MPP payment threshold. As evidenced by the wide confidence interval, a high degree of uncertainty remains in milk and new crop feed prices.