April 15, 2020: Dairy Week In Review

Wholesale dairy product prices and milk price forecasts have been lowered substantially from last month’s forecasts in USDA’s latest Livestock, Dairy and Poultry Outlook report. The all-milk price forecast is $14.35 per hundredweight, a reduction of $3.90 from the previous forecast. Dairy product demand is expected to be much lower due to the COVID19 pandemic. Export forecasts have been lowered based on lower expectations for global demand. The report also expects the nation’s dairy herd to contract, estimating the annual average herd for 2020 to be at 9.350 million head. Read More