The May Dairy Market Report is out thanks to the National Milk Producers Federation and Dairy Management, Inc. It indicates that domestic markets are stabilizing following the fall in milk prices in late 2014 and early 2015.

Here are some highlights:
· The national average all-milk price was $16.60 per hundredweight in March, down 20 cents from a month earlier.
· April Federal Order class prices indicate that the April all-milk price will likely be little changed from March.
· Exports continue below year-ago levels on a quarterly basis, but the rates of annual decline are beginning to slow for several key products.
· Gains in domestic consumption, together with moderating increases in production, are keeping dairy stocks in check and supporting milk prices.
· Steady reductions in feed costs will keep the MPP margin at the top of, or above, the range of insurable margins, at least until there is a significant change in the general dairy situation.