COLUMBIA, Mo. – Prices paid in 2024 for dairy products should be similar to 2023, while net returns may be better, according to University of Missouri Extension economist Scott Brown.
Brown told attendees at the 2024 Missouri Dairy Expo that average weather and feed costs will be key factors for this year’s outlook.
“The outlook hinges on demand,” said Brown. “Domestically, consumers may have less to spend on dairy, interest rates are higher, there’s less COVID financial help, and the economy is slower.”
On the supply side, milk production has been down for the past seven months relative to a year ago.
March 14, 2023
