Production 

The U.S. dairy herd has experienced approximately a 2% growth rate in the last five years. At the beginning of January 2026, U.S. milk cow inventory totaled 9.58 million head, up from the 9.38 million head in 2025. California has the nation’s largest milk cow inventory, with 1.71 million head. Among the ten states with the highest milk cow inventories, Pennsylvania, New Mexico, and Washington each saw a decline in total number of milk cows since last year. Alternatively, states like New York, Idaho, and Texas saw an increase in...