The USDA has reduced its milk production forecast for this year and next because of slower expected milk per cow and a smaller herd.
In its August supply and demand report, USDA forecast 2019 cheese, butter, and whey prices higher while nonfat dry milk prices were lowered because of slowing demand. Whey prices were unchanged for 2020 while cheese, butter, and nonfat dry milk were lowered.
The 2019 Class III price was raised on higher cheese and whey prices.
Continue reading Dairy production and prices expected to stay flat to lower at Brownfield Ag News.
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