Even with milk prices trending up and 2020 looking to be be even better, there is lots of uncertainty still in the marketplace. Continuing weather issues, trade and tariff issues plus forage quality and availability all weigh heavy on producer minds as they struggle to finish the 2019 season.
With cow numbers moderating and storage levels slowing or declining, there is the expectation that milk prices will continue to improve. Current domestic consumption seems to be holding but there’s lots of signals out there that point to a decline in the global and USA economic health. A recession in this county would certainly but the damper on things. If negotiators could build a lasting deal for exports, the future would make a dramatic turn-around.
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