2020 Dairy Outlook
Acting World Ag Outlook Board Chair Mark Jekanowski says USDA is forecasting lower milk production for 2020.
“We reduced our milk production forecast by 400 million pounds and that's all reflecting lower milk per cow production growth. We kept the dairy herd size unchanged.” he adds. “Still, it's up year over year from 2019 by about 3.7 billion pounds.” Meanwhile, with dairy products….” imports of cheese and butter, we reduced a bit, but we're seeing very strong growth in exports of skim milk powder, especially to Mexico.” He says, although cheese and butter prices have been softening for a while,… “dairy prices are expected to be stronger than they were last year. Class three prices are up, class four prices are up, and the all milk price is forecast to be higher in 2019.