Dairy economic storm beginning to subside but clouds remain
From this week's USDA World Ag Supply and Demand Estimates (WASDE) and Crop Production reports to Rabobank's quarterly Global Dairy update, Progressive Dairy summarizes factors potentially impacting dairy producer income:
U.S. 2023-24 milk production forecasts cut
The USDA’s monthly WASDE report was released Sept. 12. Milk production forecasts for 2023 and 2024 were again reduced, with cow numbers lowered through the end of 2023 and the first half of 2024. Output per cow was reduced for 2023 but unchanged for 2024. The slowdown in production growth added support for an improving price outlook.
Dave Natzke September 12, 2023
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