National Dairy Comprehensive Report - Monthly

1 agricultural marketing ServiceLivestock, Poultry & Grain Market News (LPGMN National average price. Replacements and Calves simple average)CommodityFebJanDecNovCommodityGr adeAvg PricePrice UnitClass II - Fresh CowApproved1, III - T3 Bred CowApproved1, IV - T3 Bred HeiferApproved1, - Open HeiferApprovedN/A/hdNon Fat Dry age 0-14 days - BullsNo. Whey age 0-14 days - BullsNo. age 0-14 days - HeifersNo. age 0-14 days - HeifersNo. (price per cwt based on CME Settlement )Feeder - Holstein SteersLarge - Holstein SteersLarge - Holstein SteersLarge III IV Fat Dry Whey (LPGMN National weighted average price per cwt)(LPGMN National average prices combined FOB and Delivered)Purchase TypeAverageNegotiated Grid Net - LiveN/ACommodityUnit PricePriceNegotiated Grid Net - - Hay$ Net - - Grass Mix Hay$ Net - - Chopped Hay$/tonN/AForward Contract - - Pellets (17%)$ Contract - - Silage**$/tonN/ACorn - Grain$ - Gluten Meal**$ Lean ClassificationAverageCorn - Gluten Feed Wet$ - 75% - Gluten Feed Pellet$ - 75% - Whole$ - 85% - Meal$ - 85% - Hulls$ - 90% Seed - Whole$ - 90% Seed - Meal$ - 92% Seed - Hulls$ - 92% (10% moisture)$ (50-55% moisture)$ (65-70% moisture)$ (Hides.)

2 Price per unit)** Corn Silage based contract purchases of field stand prior to BeefPrice/cwtHidesPrice/unitFall 2017 Harvest 30-32% moisture Nat. Cutter Cow # ** Corn Gluten Meal: Comprehensive value based on transportation 90% CL # : USDA Livestock, Poultry and Grain Market News Service St. Joseph, MO | 816-676-7000 | CowHvy Native Str N/AUnder 600 CP28-30% CP National Beef and Hide Values28-30% CP(LPGMN National weighted average box beef price per cwt - Negotiated) Weight(lbs)21% CPUnder 500 CP600 lbs and CPUnder 500 lbs and 500 2500 lbs and lbs and 2 Negotiated Direct Cow/Bull Price - All Breeds Dressed (Domestic)60% CPWt ClassPrice RangePremium 20-22% 20-22% CP1, 20-22% (Feeder Holstein Steers are based on a weighted average price)Holstein Slaughter Cattle PricesDairy Hay and Feed-Stuffs National AverageDirect Dairy Steer Price - Live/Dressed (65-80 % Choice)Wt RangePrice RangeN/ Futures Settlement Monday February 28, 202285-120(Calves are based on a simple average price)300-500 Delivery Period500-70080-130(Feeder Steers weighted average price)Delivery PeriodWt Range1000-16001000-1600800-1400600-900(D airy Market News Prices price per cwt)

3 (Replacement cattle are based on simple average price)90-13085-120(Federal Milk Order Class Prices price per cwt) National Dairy Comprehensive Report - MonthlyMonday, March 7, 2022 Report for Month Ending Monday, February 28, 2022 Milk PricesHolstein Feeder and Replacement Cattle Prices