The dairy industry is going through major transformation, not just with technology, but how shoppers want to consume milk and why. Statistics show a drop in cereal consumption could be hurting milk demand.
Global dairy prices dropped for a fourth consecutive time at a fortnightly auction on Wednesday as production in New Zealand showed signs of a potential turnaround after weak levels earlier in the season.
According to the USDA, the domestic demand for dairy has reached a 56-year high. At the same time, farm labor wages are also trending upwards. AgDay’s Betsy Jibben explains more in this week’s Dairy Report.