# Slower growth, steadier markets

> US dairy herd growth is slowing after a 27-year high in milk cows in May 2021, and cow numbers have fallen by about 9,000 head since then. Producers are trimming herds because of high feed and labor costs, reduced government payments, and strong beef prices, with a severe western drought cutting forage supplies.

- Date: 2021-09-25 · published 2021-09-25T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/4636-slower-growth-steadier-markets
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Lower cow numbers and higher feed costs tighten milk supply over time, supporting milk prices. Drought-driven forage shortages also push up demand for corn and other feed grains.

## Read by commodity

- CORN: bullish ▲
- MILK: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2022-09-25 | [Global dairy deficit to buoy milk markets](https://feedsoft.ai/events/9912-global-dairy-deficit-to-buoy-milk-markets.md) | -0.1% | +9.8% |
| MILK | 2021-04-28 | [Dairy farmers struggle with high costs in tricky market - Farmers Weekly](https://feedsoft.ai/events/47614-dairy-farmers-struggle-with-high-costs-in-tricky-market-farmers-weekly.md) | -0.0% | +7.5% |
| MILK | 2026-07-22 | [Hot Weather Gives Cheese Markets a Boost as Milk Supplies Tighten - Dairy Herd](https://feedsoft.ai/events/18528-hot-weather-gives-cheese-markets-a-boost-as-milk-supplies-tighten-dairy-herd.md) | +0.2% | +5.0% |
| MILK | 2019-01-03 | [Tight margins, weather slow global milk production \| Capital Press](https://feedsoft.ai/events/7674-tight-margins-weather-slow-global-milk-production-capital-press.md) | +1.7% | +1.5% |
| MILK | 2018-06-20 | [Where are milk prices headed in rising dairy markets? - Farmers Weekly](https://feedsoft.ai/events/64546-where-are-milk-prices-headed-in-rising-dairy-markets-farmers-weekly.md) | -0.7% | -7.0% |
| CORN | 2020-10-05 | [Grain Markets Start the Week Higher - ProAg](https://feedsoft.ai/events/11633-grain-markets-start-the-week-higher-proag.md) | +0.6% | +5.8% |
| CORN | 2021-07-06 | [Weather, tight stocks dictate grain markets](https://feedsoft.ai/events/46120-weather-tight-stocks-dictate-grain-markets.md) | -1.9% | -12.4% |
| CORN | 2017-06-09 | [Weather fears bolster grain markets against](https://feedsoft.ai/events/70424-weather-fears-bolster-grain-markets-against.md) | -1.0% | +0.3% |

## Sources

- hoards.com: https://hoards.com/article-30875-Slower-growth-steadier-markets.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.