A dairy economist says U.S. milk production was way below expectations along with New Zealand numbers for January.
“The supply situation just keeps getting worse.”
Nate Donnay with StoneX says the real breakdown of milk production in the U.S. came in the form of milk per cow.
“January was down 42 pounds, that’s a record deviation from trend,” he says.
While some analysts speculate reduced production is tied to feed quality or a lack of feed ingredients over the winter, Donnay expects USDA is off.
