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Milk Prices Rise as Production Declines and Inventory Shrinks

Domestic commercial use of milk in all products grew at an annual rate of 2 percent during August-October, which, combined with a 10 percent annual drop in the volume of U.S. dairy exports, has led to little change in total commercial use. But even that level of demand still outpaced milk production, which was down by half a percent. That’s led to a decline in dairy product stockpiles since last spring. On a milk equivalent, total milk solids basis, aggregate stocks of all dairy products in the country were down by 17 percent from May.

December 26, 2023



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