Waning milk prices, persistently high feed costs, and spotty feed inventories appear to be the emerging financial story of the 2023 U.S. dairy industry.
Guar is not a common crop grown in the U.S., nor is it widely used here as a livestock feedstuff. But that picture may be changing as alternative crops producers search for more affordable feed ingredients.
Corn and soybean values have tempered slightly since the near-historic highs of May and June this year, but dairy feed bills still will be hefty heading into fall.
An oil price of $120 a ton could send the global economy into a major recession and fan inflation in the U.S., which Jim Wiesemeyer says is already in double digits for rural Americans.
Drought in the Midwest and crop damage from the remnants of Hurricane Ida had created dampened optimism this summer about the size of this year’s U.S. corn crop.
There have been significant changes made in the dairy industry over the past 10 years which may have an impact on the effects of milk production due to high grain prices.
Chicago Board of Trade corn futures extended a rally on Thursday above eight-year highs as dry weather threatened harvest yields in major exporter Brazil and kept the focus on ebbing global supplies.
With milk prices predicted to remain extremely volatile during the first few months of 2021, producers are anxious to know what to expect when the feed bill hits the mailbox.
Strengthening milk price and weakening feed costs have improved. The interactions of projected production growth and strengthening Class III price for 2020 remain to be seen.
Minnesota is trying to keep its state’s dairy industry going after the state legislator passed an $8 million plan called the Minnesota Dairy Assistance and Relief Initiative.
Producers Worry About Lack Of Feed and Bedding Come Fall
AgDay National Reporter Betsy Jibben talks with John Metzger, a dairy farmer from Kimmell, Indiana and Marcelo Oberto, an independent dairy consultant.