Markets & Management

July marked a turning point for our nation’s milk supply, with production down 0.5% from a year ago to 19.075 billion pounds, according to the USDA Milk Production Report released last week. This was the first year-over-year decline since May 2022 when production fell 0.4 percent. The decline comes after growth in the first half of 2023, with the first quarter growth at 1% and second quarter at 0.4%. Hotter temperatures in major dairy states, coupled with a decline in the nation’s dairy herd, attributed to July’s decline.

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