U.S. milk prices ended 2019 at their highest in five years. And while 2020 may see those gains cool off a bit, they should stay high enough for many producers to start recovering from the doldrums they faced in the second half of the 2010s.
“The bleeding of the past several years will probably stop, to some extent,” said Vitaliano, NMPF’s chief economist and creator of the Dairy Market Report, a monthly drill-down on what’s driving dairy markets. Still, producers must be vigilant to keep costs under control to stay competitive both domestically and internationally, given the cyclical nature of dairy prices, he said.
To listen to the full podcast, click here. To subscribe to the Dairy Market Report, go here. You can also find the Dairy Defined podcast on Spotify, SoundCloud and Google Play. Broadcast outlets may use the MP3 file below. Please attribute information to NMPF.
(Note: NMPF’s Dairy Defined podcast explores today’s dairy farms and industry using high-quality data and podcast-style interviews to explain current dairy issues and dispel myths.)