According to a report published this month by the Professional Dairy Producers of Wisconsin (PDPW), producers in the Badger State ought to heed key signals from the marketplace and take the following action:
1. Produce milk at a total economic cost that’s competitive with other regions of the U.S.
2. Protect their profitability through the use of risk-management tools, such as forward-contracting, options and futures.
3. Develop creative, non-traditional methods of enhancing the value of the dairy production from farm to the consumer.
The PDPW group has grown considerably since the early 1990s. The group’s annual meeting now attracts more than 1,000 people.
A copy of the group’s report, “Analysis of Marketing Conditions Impacting Milk Producers in America’s Dairyland,” is available on the PDPW Web site at: www.pdpw.org (once there, click on “press releases”).