Milk price started low at the beginning of 2019 but increased through the year, ending strong compared to recent years. The U.S. all-milk price was $16.60 in January and finished the year at $20.70 in December. At $18.60, the 2019 U.S. all-milk price averaged $2.33 higher than 2018 and the highest since 2014. Prices in…
What a difference a month makes in the dairy industry. Milk futures prices have declined significantly during the last month. Feed futures prices are looking relatively stable going through the year but declines in the milk price are driving the margin down. This volatility illustrates the need for a risk management plan. If you are…
The average consumer is about three generations removed from agriculture. This means that the last family member to be involved in agriculture was their great grandparents. As consumers get further removed from agriculture, their knowledge and understanding of where their food comes from diminishes and fear more rapidly becomes a factor in food purchases. As…
Last year’s milk price was a welcome relief compared to the previous two years. The U.S. All-Milk price for 2019 averaged $18.60 per hundredweight, the highest since 2014. After several years of low prices, 2019 was not enough time to see much expansion in the industry and total milk production only increased about 0.3% over…
Over the last 20 years, the U.S. has grown from a minor global milk supplier to one of the top-5 dairy exporters in the world. In 2000, the U.S. was exporting less than $1 billion worth of exports (by value). Through November of 2020, the U.S. had exported over $5.4 billion worth of dairy products,…
January has been an active month for the dairy industry. The new U.S.-Japan trade agreement started on January 1st. Barring something unforeseen, the President will have signed the USMCA trade agreement by the time this article reaches you. Phase 1 of the new U.S.-China trade deal, which promises increased purchases of U.S. agricultural products, was…
Last Friday, the U.S. Senate passed the United States-Canada-Mexico Agreement (USMCA) in a bipartisan vote of 89 to 10. The next step is for President Trump to sign the legislation, which he is expected to do this week. Once that happens, the main factor holding back implementation is waiting for Canada’s House of Commons to…
Pennsylvania cares about its agricultural heritage. With two major farm shows at the beginning of the year, farmers and consumers are treated to two events that showcase what it means to be a farmer in Pennsylvania. I spent Tuesday and Wednesday at the Keystone Farm Show, and I appreciate several of you stopping by the…
Milk prices are down somewhat from 30 days ago, but milk price through 2020 still appears to remain profitable for most dairy farms across the country. Even though the price is looking good for 2020, it certainly is not a guarantee. Dairy Margin Coverage (DMC) enrollment for 2020 ended last month, but if you decided…
It seems like 2019 flew by. Perhaps there is some truth in the adage, “Time flies when you’re having fun.” I have enjoyed the past year and am grateful for the opportunity to stay involved in the dairy industry. The dairy industry in Pennsylvania has taken a hit over the last few years. Multiple years…
