It’s June Dairy Month, but this year there’s not as much for dairy producers to celebrate. Milk prices have plummeted, and some are even having to dump milk.
After hitting a record high for Class 3 fluid milk in April 2022 at nearly $26, spot month milk futures have plunged to new contract lows, hitting $14.92 per hundred weight on June 16.
Greg Moes, with MoDak Dairy of Goodwin, South Dakota, says the milk market has been a roller coaster.
"Last year was close to almost $10 difference on the milk price, and right now we're overproducing from the processing side and the use side," he says.
By MICHELLE ROOK
June 19, 2023
dairyherd.com
