Wisconsin farmers experienced a mixed bag of fortunes in June 2024, as commodity prices exhibited a blend of increases and declines compared to the previous month and the same period in 2023.
Corn prices took a slight downturn, settling at $4.24 per bushel, marking a $1.00 decrease from June 2023. Soybean prices, while up $1.10 from May, still fell short of the previous year’s levels, closing at $12.80 per bushel. Oat prices experienced a more substantial drop, averaging $2.90 per bushel.
In contrast, the hay market saw significant upward momentum. All hay prices surged to $190 per ton, a $13 increase from May. Alfalfa hay prices followed suit, climbing to $199 per ton. Other hay also experienced price growth but remained below May levels.
The dairy sector witnessed a positive trend, with milk prices reaching $22.10 per cwt, an $5.70 increase compared to June 2023. The price for milk cows intended for dairy herd replacement also saw an uptick, settling at $2,650 per head.
These price fluctuations underscore the dynamic nature of the agricultural market, influenced by a complex interplay of factors including supply and demand, global economic conditions, and weather patterns.
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