USDA: Milk Output Expected To Drop Slightly This Year
This year's U.S. milk output is likely to end up being ever so slightly down from last year at 226 billion pounds. USDA's USDA Outlook Board Chairman Mark Jekanowski said output's running below previous expectations due to, "slower growth in milk per cow." Brought on by drought, heat and higher feed costs. Jekanowski says that may continue to put a damper on milk output next year, as well.
"But, year-over-year, total milk production is still up."
An estimated increase of 2.5 billion pounds from this year, with the expected effect on prices. For this year USDA projecting what Jekanowski refers to as, "a remarkably high price."
Averaging $26.15 cwt, a 40% increase from 2021. But with more production coming on next year, USDA projecting milk prices to fall by about 7.5%.
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