NWFCS: Profitable Returns Expected For Dairy, Cattle Sectors
As we wrap up the first half of our six-part Northwest Farm Credit Services quarterly commodity snapshot series today, northwest livestock take center stage. Bill Perry, Northwest Farm Credit Services Vice President said their 12-month outlook for dairy suggests profitable returns.
“The USDA all milk forecasted price reached a record high at $25.75 per cwt, up 39% from 2021 prices. Record milk prices will offset headwinds from increasing feed and operational costs. Declines in global dairy production will create tailwinds for sustained elevated milk prices and keep U.S. dairy exports competitive.”
Perry added NWFCS anticipates slightly profitable returns for cattle over the next 12-months.
“Strong demand has supported higher fed cattle and beef prices, but accelerating feed costs will create headwinds for cattle producers and feedlots.”
Join us Friday as we focus on Northwest wine and cherries.
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