Troubled Waters: Dairy Producers Look to Alternative Profit Sources to Stay Afloat
With record milk prices, nobody will argue that 2022 was pretty favorable to dairy producers. Ben Laine, a senior dairy analyst with Terrain, shares that a lot of producers came into 2023 prepared to tackle the changing and challenging market conditions.
“I think the issue is now it has gotten worse than I think a lot of people initially thought and it's gone on for longer,” he says, sharing that a positive turnaround likely isn’t in the near-term forecast. “I think before you see any kind of positive glimmers of hope it’ll be more like 2024 at this point.”
According to Laine, there are always going to be concerns about macroeconomic pressures on consumers. And while inflation is cooling off on the dairy side, prices remain elevated, and people still feel under pressure.
By KAREN BOHNERT
July 14, 2023