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A volatile day in milk markets finished with a Milk Production report that surprised expectations.
Bar 20 Dairy, owned by third-generation dairy farmer Steve Shehadey along with seven other family members, is a 7,000-cow dairy that also farms 5,000 acres in the San Joaquin Valley.
More states are requiring overtime pay for ag employees. A recent USDA Ag Prices Report outlined that labor expenses were up 7.3.% compared to 2020 and is at a 20-year high.
Dairy products rebound was cut short to just one day.
The idea of taking a vacation or a day off can seem near impossible, but really can be the single best thing a farmer can do. A change of scenery, time to rest, and a chance to talk about something other than the farm.
Even though there are reasons why it seems milk futures should not be declining as much as they have, traders are anticipating milk prices based on the current domestic and international fundamentals.