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									Data Used for Computing Income Over Feed Costs (IOFC) and the Milk Margin
Source: Kenneth Bailey, Penn State University (baileyk@psu.edu)

DFC65 = (22.22/56)*Pcorn + (2.52/2000)*Psbm + (25.5/2000)*Pahay
IOFC ($/cow/day) = Pmilk * (65/100) - DFC65
Milk Margin ($/cwt) = Pmilk – DFC65*100/65

Date             Daily Feed Cost Data:
                 Pennsylvania:                                    US Average: Basis Chicago
                 Corn      SBM (avg Buffalo & Chi) PA Hay         Corn     SBM (Chicago)
                 NASS      Feedstuffs              NASS           NASS     Feedstuffs
                 $/bu      $/ton                   $/ton          $/bu     $/ton

       Jan-00         2.62                 162.71    152.00            1.91         159.25
       Feb-00         2.57                 173.14    150.00            1.98         170.50
       Mar-00         2.57                 177.37    151.00            2.03         174.20
       Apr-00         2.55                 176.68    149.00            2.03         171.25
       May-00         2.65                 190.95    145.00            2.11         186.00
       Jun-00         2.47                 187.61    137.00            1.91         181.60
        Jul-00        2.34                 180.51    135.00            1.64         173.50
       Aug-00         2.14                 165.03    127.00            1.52         159.75
       Sep-00         2.06                 182.64    121.00            1.61         175.60
       Oct-00         1.89                 184.10    120.00            1.74         176.50
       Nov-00         1.89                 183.69    121.00            1.86         178.00
       Dec-00          2.1                 200.71    128.00            1.97         195.00
       Jan-01         2.18                 201.64    122.00            1.98         196.25
       Feb-01         2.35                 180.20    119.00            1.96         176.25
       Mar-01          2.3                 169.65    114.00            1.96         166.40
       Apr-01         2.28                 164.99    115.00            1.89         154.75
       May-01         2.31                 170.10    116.00            1.82         162.25
       Jun-01         2.25                 180.08    117.00            1.76         172.40
        Jul-01        2.38                 187.83    119.00            1.87         178.75
       Aug-01         2.33                 189.86    119.00             1.9         180.00
       Sep-01         2.32                 181.81    125.00            1.91         173.25
       Oct-01         2.14                 176.09    130.00            1.84         166.00
       Nov-01         2.22                 173.50    136.00            1.85         162.75
       Dec-01         2.35                 164.95    136.00            1.98         157.00
       Jan-02         2.35                 165.40    143.00            1.97         157.50
       Feb-02         2.36                 163.36    142.00            1.93         154.50
       Mar-02         2.36                 166.96    138.00            1.94         157.00
       Apr-02         2.37                 169.55    151.00            1.91         159.75
       May-02         2.42                 173.01    147.00            1.93         161.80
       Jun-02         2.48                 178.26    140.00            1.97         167.75
        Jul-02        2.73                 194.65    139.00            2.13         184.00
       Aug-02         2.87                 200.22    136.00            2.38         190.80
       Sep-02            3                 198.21    148.00            2.47         188.50
       Oct-02         2.95                 181.68    150.00            2.34         170.00
       Nov-02         2.91                 176.38    150.00            2.28         165.60
       Dec-02         2.96                 175.23    154.00            2.32         164.75
       Jan-03         2.95                 179.44    160.00            2.33         168.00
       Feb-03         2.94                 183.93    160.00            2.34         171.50
Jan-00    2.98   188.44   168.00   2.33   175.50
Apr-03    3.07   190.48   165.00   2.34   175.75
May-03    3.07   205.51   161.00   2.38   192.80
Jun-03    3.05   203.51   176.00   2.34   190.50
 Jul-03   2.97   204.24   163.00   2.17   193.25
Aug-03    2.88   192.01   152.00   2.15   177.80
Sep-03    2.88   226.75   151.00    2.2   212.00
Oct-03    2.59   233.65   152.00   2.12   218.00
Nov-03    2.66   263.35   153.00    2.2   250.75
Dec-03    2.76   245.06   156.00   2.31   233.00
Jan-04    2.95   258.16   149.00   2.39   246.00
Feb-04     3.1   259.78   150.00   2.61   245.75
Mar-04    3.31   296.71   147.00   2.75   283.50
Apr-04    3.46   322.43   151.00   2.89   310.00
May-04    3.54   316.71   150.00   2.87   305.75
Jun-04    3.52   284.23   142.00   2.79   276.75
 Jul-04   2.98   317.85   143.00   2.51   303.60
Aug-04     2.9   221.94   145.00   2.34   202.75
Sep-04     2.4   203.48   139.00    2.2   193.75
Oct-04    2.06   162.20   140.00   2.14   153.20
Nov-04    2.26   157.19   145.00   2.05   144.00
Dec-04     2.1   164.25   141.00   2.04   153.40
Jan-05    2.32   171.58   155.00   2.12   159.33
Feb-05    2.35   174.60   138.00   1.95   162.75
Mar-05     2.4   193.69   140.00   2.02   183.00
Apr-05    2.37   197.11   146.00      2   185.00
May-05    2.54   205.86   141.00   1.98   193.00
Jun-05    2.48   223.81   143.00   2.03   210.75
 Jul-05   2.56   225.55   148.00   2.11   213.80
Aug-05    2.43   214.45   146.00   1.95   200.25
Sep-05    2.29   186.09   145.00    1.9   173.40
Oct-05    2.12   177.16   154.00   1.82   167.25
Nov-05    2.06   175.96   160.00   1.77   163.50
Dec-05    2.14   189.75   168.00   1.92   176.20
Jan-06    2.24   199.20   164.00      2   187.50
Feb-06    2.36   187.63   169.00   2.02   175.75
Mar-06    2.49   182.03   174.00   2.06   169.40
Apr-06    2.51   185.14   177.00   2.11   173.75
Jan-00     2.6   188.49   178.00   2.17   177.50
Jun-06     2.6   186.54   172.00   2.14   176.20
 Jul-06   2.59   181.10   162.00   2.14   170.75
Aug-06    2.55   170.39   154.00   2.09   160.75
Sep-06    2.71   171.15   155.00    2.2   160.40
Oct-06    2.99   185.61   159.00   2.55   173.50
Nov-06    3.35   200.33   162.00   2.88   189.75
Dec-06    3.58   195.43   162.00   3.01   184.80
Jan-07    4.04   202.76   156.00   3.05   191.75
Feb-07    4.03   216.95   159.00   3.44   205.75
Mar-07    3.98   228.56   159.00   3.43   219.80
Apr-07    3.97   213.61   159.00   3.39   206.25
May-07     4.2   208.33   161.00   3.49   198.75
Jun-07    4.32   239.17   156.00   3.53   230.80
 Jul-07    4.18   241.85   161.00   3.32   231.75
Aug-07     3.98   232.47   171.00   3.26   220.00
Sep-07     4.02   264.00   191.00   3.29   252.00
Oct-07      3.8   283.94   195.00   3.29   273.00
Nov-07     4.01   298.25   206.00   3.43   287.00
Dec-07     4.28   330.95   219.00   3.76   321.00
Jan-08     4.22   348.54   211.00   3.97   334.75
Feb-08     5.47   361.38   221.00   4.53   351.80
Mar-08     5.28   360.21   230.00   4.70   352.50
Apr-08     5.95   359.83   230.00   5.15   349.25
May-08     5.47   352.17   222.00   5.28   343.20
Jun-08     6.78   412.59   223.00   5.47   404.25
 Jul-08    6.27   444.50   210.00   5.25   436.00
Aug-08     5.71   373.20   201.00   5.26   373.20
Sep-08     5.63   367.75   204.00   5.02   367.75
Oct-08     4.09   265.60   199.00   4.37   265.60
Nov-08     3.87   268.75   203.00   4.26   268.75
Dec-08     4.14   267.50   193.00   4.10   267.50
 Jan-09    4.04   310.60   183.00   4.36   310.60
Feb-09     4.36   305.75   175.00   3.87   305.75
Mar-09     4.32   280.20   166.00   3.86   280.20
Apr-09     4.11   312.20   159.00   3.85   312.20
May-09     4.61   364.50   162.00   3.97   364.50
 Jun-09    4.38   405.50   157.00   4.03   405.50
  Jul-09   3.88   398.00   155.00   3.60   398.00
Aug-09     3.94   394.80   153.00   3.33   394.80
Sep-09     3.90   444.20   148.00   3.25   444.20
Oct-09     3.75   325.00   148.00   3.61   325.00
Nov-09     3.69   332.90   152.00   3.65   332.90
Dec-09     3.77   344.20   156.00   3.59   344.20
Jan-10     3.89   338.90   156.00   3.66   338.90
Feb-10     3.89   294.60   153.00   3.55   294.60
Mar-10     3.92   287.00   160.00   3.55   287.00
Apr-10     3.74   273.60   135.00   3.41   273.60
May-10     3.79   297.80   130.00   3.48   297.80
Jun-10     3.84   283.40   145.00   3.41   283.40
 Jul-10    4.03   314.20   149.00   3.49   314.20
Aug-10     4.15   332.30   140.00   3.65   332.30
Sep-10     4.90   333.70   150.00   4.08   333.70
Oct-10     5.44   296.80   142.00   4.32   296.80
Nov-10     5.59   338.20   135.00   4.55   338.20
Dec-10     5.86   345.30   145.00   4.82   345.30
Jan-11     6.34   367.30   153.00   4.94   367.30
Feb-11     6.82   374.50   163.00   5.64   374.50
Mar-11     6.88   349.90   159.00   5.53   349.90
Apr-11     7.23   337.60   165.00   6.35   337.60
May-11     7.08   340.40   155.00   6.30   340.40
Jun-11     7.90   283.40   175.00   6.58   283.40
Milk Margin




                              All-milk Prices:                   Daily Feed Costs for   Income Over Feed Costs:
                                                                  65 Lbs of Milk:
         Ill Premiu Alfalfa   PA                 US
         AMS                  NASS               NASS               PA      US-Chi          PA
         $/ton                $/cwt              $/cwt           $/cow/day $/cow/day     $/cow/day

                    127.17               13.20           12.00       3.183      2.580        5.397
                    130.83               12.90           11.80       3.150      2.669        5.235
                    134.67               13.10           11.80       3.168      2.742        5.347
                    132.50               13.10           11.90       3.134      2.711        5.381
                    135.83               13.50           12.00       3.141      2.803        5.634
                    126.17               13.70           12.30       2.963      2.595        5.942
                    130.00               13.90           12.60       2.877      2.527        6.158
                    126.67               13.80           12.50       2.676      2.419        6.294
                    120.00               14.20           12.90       2.590      2.390        6.640
                    122.50               14.30           12.50       2.512      2.475        6.783
                    122.50               14.50           12.50       2.524      2.524        6.901
                    135.50               14.70           13.00       2.718      2.755        6.837
                    133.00               14.50           13.00       2.675      2.729        6.750
                    134.17               14.60           13.10       2.677      2.710        6.813
                    125.83               15.70           13.90       2.580      2.592        7.625
                    122.50               16.30           14.60       2.579      2.507        8.016
                    118.33               17.00           15.50       2.610      2.435        8.440
                    116.33               17.70           16.20       2.611      2.399        8.894
                    120.83               17.60           16.20       2.698      2.508        8.742
                    121.67               17.80           16.50       2.681      2.532        8.889
                    124.17               18.50           17.10       2.743      2.559        9.282
                    125.83               17.30           15.60       2.728      2.544        8.517
                    126.67               16.80           14.40       2.833      2.554        8.087
                    136.67               14.90           13.50       2.874      2.726        6.811
                    138.33               15.00           13.60       2.964      2.744        6.786
                    139.17               14.90           13.10       2.953      2.735        6.732
                    144.17               14.40           12.60       2.906      2.806        6.454
                    150.00               14.20           12.50       3.079      2.872        6.151
                    150.00               13.60           12.10       3.052      2.882        5.788
                    135.00               13.30           11.50       2.994      2.714        5.651
                    128.33               12.80           11.10       3.101      2.713        5.219
                    133.33               13.10           11.30       3.125      2.885        5.390
                    145.00               13.20           11.60       3.327      3.066        5.253
                    147.50               13.60           12.10       3.312      3.023        5.528
                    145.83               13.90           11.90       3.289      2.973        5.746
                    133.33               13.80           11.90       3.359      2.828        5.611
                    132.50               13.70           11.80       3.437      2.826        5.468
                    135.83               13.00           11.30       3.438      2.876        5.012
140.83   12.50   11.00   3.562   2.941   4.563
144.17   12.50   11.00   3.562   2.988   4.563
140.00   12.50   11.00   3.530   2.972   4.595
125.83   12.50   11.00   3.711   2.773   4.414
126.25   13.00   12.10   3.514   2.714   4.936
126.67   13.90   13.30   3.323   2.692   5.712
126.67   15.90   14.50   3.354   2.755   6.981
125.83   16.70   15.00   3.260   2.720   7.595
125.00   16.30   14.40   3.338   2.783   7.257
128.33   15.90   13.80   3.393   2.846   6.942
129.17   14.90   13.20   3.396   2.905   6.289
123.33   15.30   13.60   3.470   2.918   6.475
122.50   16.70   15.50   3.561   3.010   7.294
120.00   18.00   18.10   3.704   3.067   7.996
120.00   20.60   19.30   3.716   3.054   9.674
120.00   20.70   18.20   3.565   2.986   9.890
126.67   18.70   16.10   3.406   2.993   8.749
126.67   16.50   14.90   3.279   2.799   7.446
126.67   17.00   15.50   2.981   2.732   8.069
126.67   17.50   15.60   2.807   2.657   8.568
125.83   17.70   16.20   2.944   2.599   8.561
125.00   18.00   16.40   2.838   2.596   8.862
125.00   17.90   16.10   3.113   2.636   8.522
120.00   16.90   15.40   2.912   2.509   8.073
120.00   17.50   15.50   2.981   2.562   8.394
120.00   16.60   15.20   3.050   2.557   7.740
120.42   16.50   14.70   3.065   2.564   7.660
118.75   15.90   14.40   3.089   2.585   7.246
122.08   16.30   14.80   3.187   2.663   7.408
127.50   16.60   14.80   3.096   2.652   7.694
133.33   17.00   15.30   2.992   2.672   8.058
133.33   17.30   15.50   3.028   2.633   8.217
134.17   17.10   15.10   3.079   2.619   8.036
135.00   16.60   14.80   3.230   2.705   7.560
138.33   16.30   14.40   3.231   2.794   7.364
138.33   15.80   13.50   3.328   2.787   6.942
138.33   14.80   12.60   3.436   2.795   6.184
138.33   13.80   12.00   3.486   2.820   5.484
131.67   13.50   11.90   3.539   2.763   5.236
125.00   13.50   11.90   3.460   2.665   5.315
125.42   13.50   11.70   3.321   2.663   5.454
125.83   13.80   12.00   3.190   2.636   5.780
127.50   14.10   13.00   3.267   2.701   5.898
127.50   15.20   13.50   3.448   2.856   6.432
127.50   15.40   13.90   3.647   3.007   6.363
131.67   15.50   14.20   3.732   3.106   6.343
140.00   16.20   14.50   3.847   3.237   6.683
141.67   16.50   14.90   3.900   3.430   6.825
140.83   17.20   15.60   3.894   3.434   7.286
140.83   18.00   16.60   3.872   3.401   7.828
134.17   19.30   18.00   3.982   3.346   8.563
137.50   21.30   20.20   4.004   3.445   9.841
144.17   23.40   21.60   4.016   3.447   11.194
154.17   23.70   21.60   4.052   3.536   11.353
154.17   23.80   21.80   4.363   3.589   11.107
162.50   23.50   21.40   4.352   3.721   10.923
170.00   23.90   21.90   4.593   3.890   10.942
170.00   23.10   21.50   4.907   4.064   10.108
170.83   22.60   20.50   4.804   4.175    9.886
179.17   21.00   19.10   5.444   4.525    8.206
179.17   19.10   18.10   5.481   4.593    6.934
178.33   19.90   18.00   5.747   4.757    7.188
178.75   19.50   18.40   5.445   4.807    7.230
177.50   20.30   19.30   6.053   4.947    7.142
195.00   21.40   19.40   5.725   5.115    8.185
195.00   20.50   18.40   5.249   4.901    8.011
196.67   20.50   18.20   5.298   4.963    8.027
196.67   19.40   17.70   4.495   4.576    8.115
196.67   19.20   17.10   4.462   4.536    8.018
194.17   17.10   15.60   4.440   4.439    6.675
201.67   16.20   13.30   4.328   4.693    6.202
193.33   13.50   11.60   4.346   4.386    4.429
193.33   13.00   11.80   4.184   4.350    4.266
179.17   13.40   11.90   4.051   4.205    4.659
180.00   13.40   11.60   4.354   4.330    4.356
168.33   12.90   11.30   4.251   4.256    4.134
168.83   13.00   11.30   4.017   4.083    4.433
165.83   13.30   12.00   4.012   3.933    4.633
165.83   14.20   12.90   3.994   3.964    5.236
165.83   15.80   14.20   3.784   3.956    6.486
165.00   16.80   15.30   3.822   3.971    7.098
163.33   17.90   16.50   3.919   3.941    7.716
169.17   18.00   16.10   3.960   4.036    7.740
165.83   18.10   15.90   3.865   3.894    7.900
178.33   17.00   14.80   3.957   4.044    7.093
178.33   16.30   14.60   3.550   3.971    7.045
177.50   16.90   15.10   3.537   4.019    7.448
178.33   17.50   15.50   3.729   3.984    7.646
178.33   18.10   16.00   3.895   4.054    7.870
163.33   18.50   16.70   3.850   3.949    8.175
164.17   19.60   17.70   4.277   4.133    8.463
164.17   20.30   18.50   4.343   4.181    8.852
167.50   20.20   17.90   4.365   4.367    8.765
168.33   18.90   16.70   4.609   4.494    7.676
171.67   18.90   16.70   4.929   4.612    7.356
171.67   20.70   19.10   5.256   4.898    8.199
170.83   22.00   20.40   5.198   4.813    9.102
170.83   21.50   19.60   5.398   5.123    8.577
179.17   22.10   19.60   5.214   5.213    9.151
180.83   22.80   21.00   5.723   5.274    9.097
Income Over Feed Costs:   Milk Margin:


             US-Chi          PA          US-Chi
            $/cow/day       $/cwt         $/cwt

                 5.220        8.304        8.031
                 5.001        8.053        7.694
                 4.928        8.225        7.582
                 5.024        8.278        7.730
                 4.997        8.668        7.687
                 5.400        9.141        8.307
                 5.663        9.474        8.713
                 5.706        9.683        8.778
                 5.995       10.215        9.223
                 5.650       10.436        8.693
                 5.601       10.617        8.617
                 5.695       10.518        8.762
                 5.721       10.385        8.802
                 5.805       10.482        8.930
                 6.443       11.731        9.913
                 6.983       12.333       10.743
                 7.640       12.985       11.753
                 8.131       13.682       12.510
                 8.022       13.449       12.342
                 8.193       13.675       12.605
                 8.556       14.279       13.163
                 7.596       13.102       11.687
                 6.806       12.441       10.471
                 6.049       10.478        9.306
                 6.096       10.440        9.379
                 5.780       10.357        8.893
                 5.384        9.929        8.284
                 5.253        9.463        8.082
                 4.983        8.904        7.666
                 4.761        8.694        7.324
                 4.502        8.030        6.926
                 4.460        8.292        6.862
                 4.474        8.081        6.883
                 4.842        8.505        7.449
                 4.762        8.839        7.327
                 4.907        8.633        7.549
                 4.844        8.413        7.453
                 4.469        7.710        6.875
4.209    7.020    6.475
4.162    7.020    6.403
4.178    7.070    6.427
4.377    6.791    6.734
5.151    7.594    7.924
5.953    8.788    9.158
6.670   10.740   10.261
7.030   11.685   10.815
6.577   11.165   10.119
6.124   10.680    9.421
5.675    9.676    8.731
5.922    9.962    9.111
7.065   11.221   10.869
8.698   12.301   13.381
9.491   14.883   14.602
8.844   15.215   13.607
7.472   13.460   11.495
6.886   11.455   10.594
7.343   12.414   11.297
7.483   13.182   11.512
7.931   13.171   12.201
8.064   13.634   12.405
7.829   13.111   12.045
7.501   12.420   11.540
7.513   12.913   11.558
7.323   11.907   11.267
6.991   11.785   10.755
6.775   11.147   10.423
6.957   11.397   10.703
6.968   11.837   10.721
7.273   12.397   11.189
7.442   12.642   11.449
7.196   12.363   11.071
6.915   11.630   10.638
6.566   11.330   10.102
5.988   10.681    9.213
5.395    9.514    8.301
4.980    8.437    7.662
4.972    8.056    7.649
5.070    8.177    7.800
4.942    8.390    7.603
5.164    8.892    7.944
5.749    9.074    8.845
5.919    9.896    9.106
6.028    9.789    9.273
6.124    9.758    9.422
6.188   10.281    9.520
6.255   10.501    9.622
6.706   11.209   10.318
7.389   12.044   11.368
8.354   13.174   12.853
9.685   15.139   14.901
10.593   17.221   16.296
10.504   17.466   16.159
10.581   17.088   16.279
10.189   16.805   15.675
10.345   16.833   15.915
 9.911   15.550   15.248
 9.150   15.209   14.077
 7.890   12.625   12.138
 7.172   10.667   11.033
 6.943   11.059   10.681
 7.153   11.124   11.005
 7.598   10.987   11.689
 7.495   12.592   11.531
 7.124   12.325   10.960
 6.867   12.349   10.565
 6.929   12.485   10.660
 6.579   12.335   10.121
 5.701   10.268    8.770
 3.952    9.542    6.081
 3.154    6.813    4.853
 3.320    6.564    5.108
 3.530    7.167    5.430
 3.210    6.702    4.939
 3.089    6.361    4.752
 3.262    6.820    5.019
 3.867    7.128    5.949
 4.421    8.055    6.802
 5.274    9.978    8.113
 5.974   10.921    9.190
 6.784   11.871   10.438
 6.429   11.908    9.891
 6.441   12.153    9.909
 5.576   10.912    8.579
 5.519   10.839    8.490
 5.796   11.459    8.917
 6.091   11.762    9.371
 6.346   12.108    9.762
 6.906   12.576   10.624
 7.372   13.020   11.342
 7.844   13.618   12.067
 7.268   13.484   11.181
 6.361   11.809    9.786
 6.243   11.317    9.605
 7.517   12.614   11.564
 8.447   14.003   12.995
 7.617   13.196   11.718
 7.527   14.078   11.580
 8.376   13.995   12.887

								
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