Milk-feed ratio continues to fall

Escalating feed cost, particularly a soybean price above $10, kept the December milk-feed price ratio below 3.0. At 2.82 for December, the ratio is 0.24 points less than November and just 0.39 points higher than a year ago. The all-milk price fell 20 cents, but is still $21.70 per hundredweight.

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