A dairy economist says it’s hard to find bright spots in the dairy outlook right now. Peter Vitaliano with the National Milk Producers Federation says April was the seventh straight month with higher cow numbers than the previous year, and although production per cow was up fractionally, it was enough to oversupply the market. He calls this expansion anemic compared to other years. “It was not an explosive expansion the way these kinds of prices would normally have generated, and I think what’s happening is feed costs are very, very high and demand has been affected by the bout of inflation that we’re just slowly coming out of.”
Vitaliano expects the milk prices to bottom out over the next several months.
