The USDA does not expect milk production to increase through at least 2025 and farmers should benefit.
In its latest supply and demand report, the department says lower cow numbers and slower production increases per cow are likely.
Expectations for butter, cheese, nonfat dry milk, and whey prices were raised for 2024 because of recent price strength and the reduced milk supply. The Class III and Class IV prices were also increased.
September 12, 2024
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