Markets & Management

Residual effects of high feed cost extremes continue to impact milk production across the nation. Year-over-year (YOY) milk production growth has been slowing since its peak in April 2021.  Growth fell below 1% in August and was basically flat in September. For the first time since May 2020, October YOY milk production shrank due to decreased cow numbers and reduced milk  production per cow. Milk production in the three largest European milk producing countries, Germany, France, and the United Kingdom, have had multiple months of declining YOY milk  production. Milk production in Oceania is not on par with previous years either. All these factors point to a tightening in the world milk supply that is helping to bolster domestic prices. Read More