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Ohio State dairy extension analysis puts the 2023 US all-milk price at about $20.60/cwt, with record-low milk-to-feed margins. The January USDA forecast has the 2024 average slightly below 2023 at $20/cwt, and feed costs are projected to be lower.
Lower projected feed costs and a slightly lower milk price narrow dairy producer margins, which can cut feed purchasing power in the coming year.
ocj.comBernadette ArehartFeb 1, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
