USDA has adjusted the 2023 dairy production and cow inventories downward, and they’ve lowered their 2024 expectations. Friday’s supply and demand report shows 2023 milk production was lower than anticipated with fewer cows on farms and slower growth in milk output per cow.
USDA says milk production for December was projected at 226.9 billion pounds, with 228.3 billion pounds expected this month.
Fat and skim-solids bases imports for 2023 were unchanged but 2024 expectations are lowered, based on lower expected cheese and butter fats imports.
