U.S. dairy production slowing slightly
Dairy prices are expected to edge higher this year as production slows due to a smaller U.S. dairy herd, according to John Newton, American Farm Bureau Federation chief economist.
“For the first time in quite a while, we’re starting to see the U.S. dairy market slow down in production,” he said. “We’re down about 70,000 head from where we were at year-ago levels. Globally, production is starting to slow, and we’re seeing prices globally and here in the U.S. for some products start to move up. It’s not going to be anywhere near where it was in 2014, but certainly better than what it’s been in recent years.”
U.S. milk production in March was 0.4% below March 2018, according to the U.S. Economic Research Service (ERS). The milk production ...
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