The deadline to enroll for the USDA’s Dairy Margin Coverage (DMC) and Supplemental Dairy Margin Coverage (SDMC) programs is approaching fast. The last day for producers to sign up is Monday, April 29, 2024.
As long as the beef market is hot, the key for producers will be maintaining the right number of lactating cows going through the parlor and ensuring the right number of replacement heifers can keep that pipeline full.
It seems as if the dairy industry has taken HPAI in stride. Price fluctuations have been the result of buyers of the physical commodity on the CME daily spot market doing normal business.
Lucas Fuess with RaboResearch says we are now in a far different state as producers have kept fewer replacement heifers and the milking herd numbers are the lowest they’ve been in four-plus years.
Once again, Farm Journal will be awarding Milk Business awards to dairy producers from whom our readers can learn business concepts, ranging from technology to young producers to employee excellence.
So far, HPAI has not had an impact on milk futures or the underlying cash prices. However, HPAI has not had an impact on milk futures or the underlying cash prices.
What’s new and rare for the dairy industry is that we are experiencing nearly a year of weaker global milk supply. What’s not new is that for the seventh consecutive month, milk production has documented a decline.
Jay Bryant, CEO of Maryland & Virginia Milk Producers Cooperative Association (MDVA) announced he will retire from his position at the end of this year. Jon Cowell, current CFO of MDVA, has been named as his replacement.
Cow numbers declined last year and will likely decline further if milk prices remain low. Tightening heifer numbers and higher milk replacement cow prices may reduce the ability of farms to keep stalls full.
If there’s any assurance about the economic picture for the dairy industry and agriculture in general going forward in the next few years, it’s that volatility will be a constant.
Cheese continued its descent on Monday as cheddar blocks fell 2.50 cents and barrels were down 2.75 cents. Class III values also reacted in a weaker tone.
The large decline in cow numbers and reduced milk production turned traders bullish, but that was short-lived. Will higher milk prices be delayed once again?
Dairy producers wonder what it will take for the market to turn around, as we wade out of this volatile economy. Phil Plourd shares fluctuating signals that are a telltale sign if milk prices will rebound in 2024.
While the calendar flipped to 2024 weeks ago, there has been little change in dairy market sentiment since the beginning of this year. Globally, the industry continues to walk a tightrope of limited ‘new’ milk.
Recently, the USDA lowered its milk production forecast for 2024 due to lower expected output per cow, which is partly offset by higher cow inventories.
Heifers are not as abundant as they had been with prices increasing significantly. Dairy cattle slaughter has slowed with farms showing more interest in purchasing cows to keep stalls full while fewer go to slaughter.
Dairy producers realize that good times don’t last forever. While producers are hoping good times circle again, until then, keeping a close eye on your financials will help you weather the financial storm.
According to Idaho Dairymen’s Association for the first time in a long time, production growth will likely come to a halt due to the financial stress and the negative margins producers out west are experiencing.
Michael Dykes, CEO of IDFA shared at the 2024 International Dairy Forum in Phoenix that our industry has a growth mindset The big-ticket question is whether today’s producers can help fill the milk production need.
With the start of the new year comes the setting of resolutions for personal habits, behaviors and practices. Dairies can and should do the same for their operations. Here are six places to start.
Ask any dairy farmer how they feel about today’s markets and they will say that the economics don’t add up. This is true in any state, but certainly being highlighted in Wisconsin, as last year they lost 455 dairy farms.
The hope is that depressed milk prices will be short lived. However, without a significant increase in demand or tighter milk supply or both, low prices may be with us for a longer duration.
The High Plains Dairy Conference will be March 5-6 in Amarillo, Texas. The conference will explore alternative revenue streams, the future of exports and much more.
Dairy replacement heifer trade has been light nationwide. Similarly, global dairy trade has been on the decline. Will the trend continue as we head into 2024?
While we have flipped the calendar to a New Year, we didn’t necessarily say goodbye to low milk prices. 2023 was a tough year financially for dairy producers and 2024 isn’t off to a great start either.
Minnesota ended 2023 with 146 fewer dairy farm permits than the state did at the beginning of the year. The big-ticket question is with dairy’s razor-thin financial margins, how many more dairies will exit in 2024?