In March 2023, the average price of milk in Iowa increased by 60 cents to $20.20 per hundredweight compared to February prices. Despite being $5.50 lower than the same period last year, the increase in price is expected to benefit dairy farmers in Iowa. The average price received by farmers for milk cows for dairy herd replacement as of April 1, 2023, was $1,700 per head.
Moreover, Iowa farmers also saw an increase in hay prices. The average price for all hay in Iowa was $183 per ton, $10 higher than the February price and $24 higher than the March 2022 price. Alfalfa hay prices in March 2023 were $189 per ton, $10 higher than the previous month and $24 higher than March 2022. Meanwhile, the average price for other hay in March 2023 was $162 per ton, $10 more than the February price and $27 higher than March 2022.
Farmers received an average of $6.70 per bushel in March, which is 13 cents lower than in February this year, but still 11 cents above the price in March 2022.
In contrast, the average price farmers received for soybeans was 10 cents below the February price at $14.90 per bushel, this price was also 10 cents lower than in March 2022.
Photo Credit: GettyImages-DimaSobko
Categories: Iowa, Livestock, Dairy Cattle