The chief economist for the National Milk Producers
Federation says the dairy industry is showing of signs of rebalancing.
“It’s a delicate balance between production growth, consumption growth domestically and export growth. The markets are looking to be in better balance.”
Peter Vitaliano tells Brownfield one of the largest drivers is the declining cow herd which USDA confirmed in Friday’s supply and demand report. Milk production for 2018 and 2019 was lowered on lower expected first-half dairy cow numbers and continued slow growth in milk per cow.