The Latest: January - 2025
Heifer Shortage Slows Growth in Milk Production
With cull rates at a 16-year low, the industry was able to stabilize the dairy herd, but growth was fleeting. There were 9.351 million milk cows in the final month of 2024, just 3,000 more than in December 2023 and 9,000 fewer than there were in November.
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Revenues improved throughout the year. Although not sufficient to undo years of financial distress, it is the highest revenue since 2014 and worthy of celebration.
View reportThe market did its job, encouraging production, discouraging sales, and returning to equilibrium at more sustainable values.
View reportPass the egg nog, please. USDA announced the highest Class III price in five years. That’s a lot of Christmas cheer heading for dairy producers’ mailboxes. The butter market, however, is suffering a holiday hangover.
View reportThe gains were driven by impressive improvements in milk production per cow. Higher prices and mild weather have boosted milk output.
View reportSpot Cheddar is still at a rather lofty perch and spot barrels have the highest value in more than five years. The markets are doing their job.
View reportCME spot Cheddar barrels reached a five-year high, then the bids dried up.
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