Markets & Management

Although U.S. cow numbers peaked in March at 9.446 million, falling 16,000 head since then to 9.430 million in April and May, cow numbers are still above what they were one year ago.  Increased cow numbers and increased milk cow efficiency have led to milk production increasing year-over-year (YOY) for the first 5 months of 2023. Inflationary pressures are still hindering domestic demand, while a growing global supply has caused many major dairy export product prices to invert, with international prices now cheaper than U.S. prices. This is making U.S. dairy  products less competitive than other dairy exporting regions like the European Union and Oceania. Read More