The USDA World Agricultural Supply and Demand Estimates were released on February 9.
The 2021 milk production, trade, and stock estimates are adjusted to reflect December data. For 2022, the milk production forecast is lowered from last month, on lower dairy cow numbers. The Cattle report estimated the dairy cow inventory on January 1 almost one percent below 2021, and the number of heifers held for dairy cow replacement was three percent lower.
Continue reading “WASDE Predicts Milk Price Up, But Margins Tighten”